L&T's Q2 profit goes up 45% to Rs. 3,223 crore
Larsen & Toubro (L&T) has experienced a 45% year-on-year surge in net profit for the second quarter of the 2023-24 fiscal year, reaching Rs. 3,223 crore. The firm's consolidated revenue also witnessed a 19% increase, amounting to Rs. 51,024 crore, up from Rs. 42,763 crore during the same period last year. This impressive growth can be attributed to the successful execution of infrastructure projects and the continued progress in the IT and ITeS sectors.
Breakdown of orders and international growth
In Q2, L&T secured group-level orders worth Rs. 89,153 crore. This represents a remarkable 72% growth compared to the same quarter last year when it received orders valued at Rs. 51,914 crore. These orders spanned various sectors, including public spaces, irrigation, nuclear power, ferrous metal, health, renewables, and refineries. International orders made up a significant 67% of the total order inflow, amounting to Rs. 59,687 crore.
Order inflow backed by solid tender pipeline
During Q2, L&T secured orders ranging from Rs. 24,500-44,500 crore, backed by a solid tender pipeline from both domestic and international markets. As of the end of September, the group's consolidated order book stood at Rs. 450,734 crore, with international orders comprising 35% of the total.
