Larsen & Toubro, the giant in the fields of engineering and construction, posted its consolidated net profit at Rs 2,786 crore for the April-June quarter of the current fiscal, which was an increase over Rs 2,493 crore in the year-ago period by 12%. Consolidated revenues of the company for the quarter ended June 30, 2024, stood at Rs 55,120 crore, up 15 per cent on a year-on-year basis, after its Projects & Manufacturing sector had a stellar show and the company had a strong order backlog.
Its international revenues stood at Rs 26,248 crore, making up 48% of the total revenues for the quarter. Group consolidated new orders reached an all-time high of Rs 70,936 crore, up 8 per cent year-on-year, driven by robust demand conditions in the Middle East.
Consolidated order book as of June 30, 2024, was Rs 490,881 crore, up 3 percent from March 2024 and 19 percent year-on-year. Of this, international orders constituted 38 percent. Chairman S.N. Subrahmanyan said, "We have witnessed steady growth in all financial parameters in Q1 FY 2024-25 amidst global geopolitical turmoil."
He further said that against the backdrop of immense changes sweeping across the world, L&T stands better placed to capitalize on them with its capabilities in conventional P&M businesses as much as in new technology-driven businesses. Financial Services has made appreciable progress, with its rechristening into Retail Finance and improved profitability. Only recently, L&T signed a share purchase agreement with Bengaluru-based chip design firm SiliConch Systems to acquire majority stake, paving its foray into the Semiconductor business. L&T's shares ended at Rs 3,522 apiece on Wednesday.
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