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Construction and engineering major Larsen & Toubro Ltd. (L&T) net profit for the third quarter ended December 31 rose 14% year-on-year to ₹3,359 crore owing to timely execution and operational excellence, a top official said.
Consolidated revenue climbed 17% to ₹64,668 crore on the back of a strong order book and ramp up in execution momentum across its projects and manufacturing (P&M) businesses.
International revenue at ₹32,764 crore constituted 51% of the total revenue, reflective of improved execution in international P&M portfolio, the company said.
During the quarter, the company received orders worth ₹1,16,036 crore at the group level, its highest quarterly order, registering a growth of 53%. Orders were received across sectors like Thermal Power, Renewable, Power Transmission, Precision Engineering, Minerals & Metals, Water, Commercial Buildings and Hydrocarbon Onshore.
International orders at ₹62,059 crore comprised 53% of the total order inflow.
Consolidated order book of the group as on December 31 rose 19% to ₹564,223 crore with the share of international orders at 42%.
S.N. Subrahmanyan, CMD, said,, “This quarter ended on a strong note for us. Our commitment to timely execution, operational excellence and a customer-centric approach is reflected in our healthy financial performance.”
“The projects and manufacturing businesses continue to perform well enabled by the improved productivity pursuant to our sustained digital adoption efforts,” he added.
He said the upcoming Union Budget is expected to emphasise building infrastructure and adoption of technology among others.
“We expect the Middle East to continue to strengthen its physical and digital infrastructure besides continuing to monetise its oil & gas assets. Amid this backdrop, the company will continue to pursue excellence and leverage its strengths to seize new opportunities while remaining resilient,” he added.
The Infrastructure Projects segment reported revenue at ₹32,134 crore, up 15% YoY, majorly attributed to the execution of a large order book. International revenues constituted 42% of the total customer revenues of the segment.
The EBITDA margin of the segment remained stable at 5.5%.
The energy projects segment reported revenue of ₹11,051 crore, up 41%, majorly attributed to execution ramp-up in international projects. International revenue constituted 66% of the total revenue. The EBITDA margin at 8.3% was lower compared with 9.7% a year ago.
Hi-tech manufacturing segment clocked a revenue of ₹2,433 crore, up 18%. The EBITDA margin was at 18.2% against 16.7% a year ago.
The IT & Technology Services (IT&TS) segment reported revenues of ₹12,061 crore up 8% YoY. The EBITDA margin was at 18.7% lower compared with 20.7% a year ago. “The segment margin was impacted mainly due to higher employee costs and forex loss,” the company said.
The financial services segment reported income of ₹3,881 crore up 14%. The segment PBT remained stable at ₹824 crore.
The development projects segment clocked revenue of ₹1,434 crore, up 18% aided by growth in Nabha Power. The segment EBIT registered a growth of 26% YoY to ₹ 149 crore mainly due to improved ridership in Hyderabad Metro and higher PLF in Nabha Power.
The others segment comprising realty, industrial valves, construction equipment & mining machinery and rubber processing machinery reported a revenue of ₹1,674 crore, up 9% mainly contributed by higher handover of residential units in realty business.
The segment EBITDA margin was at 27.5% higher than 24.4% a year ago mainly due to a favourable revenue mix in valves and construction equipment and mining machinery business, the company said.
Published – January 30, 2025 09:07 pm IST
