Larsen and Toubro net income soars 37% to Rs 2,042 cr; third quarter sees delay in order awards

  • Larsen and Toubro posted a 37 percent growth in net income at Rs 2,042 crore on a robust 24 percent uptick in revenue at Rs 35,709 crore

  • At Rs 11,476 crore, its international revenue constituted 32 percent of the overall revenue

  • During the quarter, the company secured orders worth Rs 42,233 crore at the group level

Mumbai: Engineering and construction major Larsen and Toubro on Friday posted a 37 percent growth in its net income at Rs 2,042 crore on a robust 24 percent uptick in revenue at Rs 35,709 crore for the three months to December.

 Larsen and Toubro net income soars 37% to Rs 2,042 cr; third quarter sees delay in order awards

Representational image. Reuters.

A "strong execution in project businesses coupled with noteworthy performance in service businesses" led to a jump in revenue during the reporting period, the company said in a statement to the exchanges.

At Rs 11,476 crore, its international revenue constituted 32 percent of the overall revenue, it said, adding during the quarter it secured orders worth Rs 42,233 crore at the group level.

The quarter also witnessed delays in order awards due to deferment of select prospects, mainly in transportation infrastructure, heavy civil infrastructure and power businesses, the company said.

The company scrip closed 0.85 percent down at Rs 1,285.55 on the BSE, as against a 0.47 percent correction in the benchmark. The numbers were announced post-market hours.

 

 

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Updated Date: Jan 25, 2019 17:34:35 IST