Larsen & Toubro posts over two-fold jump in Q1 profit at Rs 1,531 crore

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Infrastructure major Larsen & Toubro (L&T) on Monday posted an over two-fold jump in consolidated profit after tax (PAT) to Rs 1,531.66 crore for the quarter ended June, helped by higher income.

The company’s “net profit after tax from continuing operations & discontinued operations” was at Rs 543.93 crore in the year-ago quarter, L&T said in a BSE filing.

Its total income during the April-June quarter of the ongoing fiscal rose to Rs 29,982.70 crore from Rs 22,037.37 crore in the same period a year ago.

The engineering and construction conglomerate’s expenses were at Rs 27,708.08 crore as against Rs 21,367.63 crore earlier. The company said it has achieved consolidated revenues of Rs 29,335 crore for the quarter ended June 30, 2021, registering a y-o-y growth of 38%.

The international revenues during the quarter at Rs 11,186 crore constituted 38% of the total revenue. The company bagged orders worth Rs 26,557 crore at the group level during the quarter, a growth of 13% over the corresponding period of the previous year.

International orders at Rs 9,045 crore comprised 34% of the total order inflow. The consolidated order book of the group stood at Rs 3,23,721 crore as on June 30, 2021, with international orders at 20% of the total book.