L&T profit jumps 42 per cent in Jul-Sept, shares rise

Larsen and Toubro (L&T) has reported a 42.4 per cent jump in net profit at Rs 1,137 crore for the quarter ended September 30. The engineering and construction company had posted a net profit of Rs 798 crore for the same period last year.

Total income increased to Rs 13,524.62 crore for the quarter ended September 30, from Rs 11,564.25 crore reported in the corresponding quarter last year.

"The company has been sustaining its growth momentum on the back of its strong and diversified business portfolio and increasing international presence. With its execution efficiencies and robust order book, the company is placed well to realise its near term targets and medium tern plans," L&T said in a statement.

L&T recorded higher order inflow at Rs 20,967 crore, registering a growth of 30 per cent year-on-year, the statement added. The maximum orders were from some of the segments like building and factories and infrastructure.

"Order book stood healthy at Rs 1,58,528 crore as at September 30. International order book constituted 12 per cent of the total order book."

Commenting on the outlook, the company said: "The quarter has witnessed tight liquidity conditions and volatility in the currency markets. Inflation continuous to remain elevated exerting pressure on operating margins... A few steps taken by the government recently underscore its commitment for accelerating the pace of economic development which provides positive signals for the prospects for the company."

On the back of sharp rise in quarterly profit, shares of L&T settled higher by over 2 per cent at 1,668.20 on the Bombay Stock Exchange.

With inputs from PTI