Larsen & Toubro (L&T) has reported strong financial results for the second quarter of FY25, with consolidated revenues reaching ₹61,555 crore, marking a 21% year-on-year growth. This impressive performance is attributed to accelerated progress across the Projects & Manufacturing (P&M) portfolio. Notably, international revenues for the quarter stood at ₹32,057 crore, representing 52% of the total revenues, driven by a robust international P&M order book.
For the half-year ended September 30, 2024, L&T posted consolidated revenues of ₹116,674 crore, an 18% increase from the previous year. The company’s Profit After Tax (PAT) for Q2 FY25 was ₹3,395 crore, up 5% year-on-year. Excluding a non-recurring gain of ₹512 crore from the Transit Oriented Development (TOD) monetization in the Hyderabad Metro last year, the PAT growth for the quarter and half-year stood at 25% and 19%, respectively.
L&T received orders worth ₹80,045 crore at the group level during Q2 FY25, with international orders accounting for ₹50,083 crore, or 63% of the total order inflow. Although there was a 10% year-on-year decline due to a high base in the previous year, the company saw a sequential growth of 13% in order inflow. The consolidated order book as of September 30, 2024, reached ₹5.10 lakh crore, reflecting a 7% growth over March 2024, with 40% of the order book from international markets.
Commenting on the performance, S.N. Subrahmanyan, Chairman and Managing Director of L&T, said, “We have delivered yet another quarter of strong financial performance despite the continuing global macroeconomic volatility. The projects & manufacturing businesses of the Company continue to perform well. We have a record order book ₹5 lakh crore+ that is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management.”
He further added, “Our new transformative investments in Green Energy, Data Centers, Digital Platforms and Semiconductor Design will, besides improving our Digital and Sustainability footprint, compliment our current business portfolio as well. India’s growth story remains intact on the back of continued public capex spends and a visible recovery in private investments as well. We expect the Middle East Capex momentum to remain healthy. The Company remains committed on delivering a sustained performance of growth.”
L&T’s strategic investments in green energy, digital platforms, and semiconductor design underscore its focus on expanding digital and sustainability efforts while bolstering its existing business portfolio. The company remains optimistic about India’s growth trajectory and the capex momentum in the Middle East, expecting these factors to support sustained growth.
