Larsen and Toubro (L&T) announced a consolidated net profit of ₹2,786 crore for the quarter ending June 2024, marking a 12% increase from ₹2,493 crore in the same period last year. The company’s revenue from operations rose by 15% to ₹55,120 crore, up from ₹47,882 crore in the previous year.
Although L&T’s profit fell slightly short of market predictions, its revenue exceeded expectations. Analysts had forecasted a 15% increase in profit to ₹2,876 crore and a revenue rise of 9.6% to ₹52,518 crore.
The company’s shares closed 0.45% lower at ₹3,522 apiece on July 24.
For the quarter ending June 30, 2024, L&T reported an order inflow of ₹70,936 crore, up 8% from the previous year, driven by strong demand from the Middle East. International orders accounted for 46% of the total, with the consolidated order book reaching ₹4,90,881 crore. This represents a 19% increase from ₹4,12,648 crore a year ago and a significant rise from ₹3,63,448 crore two years prior.
Larsen and Toubro shares closed 0.45% lower at Rs 3,522.00 on NSE on Wednesday.
