L&T Q3 results: Net profit rises 15% to Rs 2,947 cr, revenue up 19%

Engineering major Larsen & Toubro Ltd on Tuesday reported 15% rise in consolidated net profit at Rs 2,947 crore for the quarter ended December 31, 2023. It reported consolidated net profit of Rs 2,553 crore in the year-ago period. 

L&T's consolidated revenue from operations jumped 19% to Rs 55,128 crore in Q3FY24 as against Rs 46,390 crore in Q3FY23. 

S N Subrahmanyan, Chairman and Managing Director, said: “We have registered yet another quarter of strong performance, despite the headwinds from a volatile global environment and consequent supply chain constraints. Our nine month order inflow has crossed the FY’23 level. This is a testament to our wide capability spectrum, diversified presence, financial strength and most importantly the faith reposed in us by our customers. 

"During the quarter ended December 2023, we made a foray into fabless semiconductor chip design. Our bold strides in new age sectors, including Digital Platforms, Data Centres, and Green Energy will pivot us into a technology – led conglomerate. We are currently witnessing improved capex spends in both our primary geographies of India and Middle East. Despite continued global macroeconomic and geopolitical volatility we remain positive about the investment spends continuing in the medium term.”

"The Company received orders worth Rs 75,990 crore at the group level during the quarter ended December 31, 2023, registering a robust growth of 25% on y-o-y basis. During the quarter, orders were received across various businesses like Offshore vertical of Hydrocarbon, Solar EPC & Power Transmission, Water Utilities, Buildings & Factories and Minerals & Metals sectors. International orders at Rs 50,562 crore during the quarter comprised 67% of the total order inflow. The consolidated order book is at Rs 4.7 lakh crore as on December 31, 2023, with international orders having a share of 39%," said L&T in a stock exchange filing.

On Tuesday, L&T's scrip on BSE closed trading 1.8% lower at Rs 3,639.85.