By Malvika Gurung
Investing.com -- The construction and engineering giant Larsen & Toubro (NS: LART ) reported a 16.7% decline in consolidated net profit at Rs 2054.74 crore in the December quarter on a YoY basis, while its revenue from operations grew 11% YoY to Rs 39,562.92 crore in the quarter, in line with the Street’s estimate.
The company stated that an uptick in revenue indicates a healthy project execution momentum, along with robust growth in its IT&TS portfolio. L&T’s international sales in the quarter under review stood at Rs 14,541 crore, making up 37% of total revenue.
Moreover, the infrastructure major bagged Rs 50,359 crore-worth new orders in Q3, down 31% YoY. This was largely because it secured the largest-ever EPC contract last year in its infrastructure segment for the Mumbai Ahmedabad High-Speed Rail.
In Q3 FY22, L&T secured various orders in different business sectors, namely Hydrocarbon Offshore, Rural Water Supply, and Metros, among others.
The biggest contributor to L&T’s revenue comes from the infrastructure business, and its sales grew 16% YoY to Rs 18,345 crore, exceeding analysts’ expectations.
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Please check spelling, before uploading any update. In the third paragraph, it should be bagged instead of begged.Like 4
I never understood, why LT not moving having many businesses. All perform well.Like 1
I never understood, why LT not moving having many businesses. All perform well.Like 0