Friday, Mar 29 2024 | Time 03:30 Hrs(IST)
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Business Economy


L&T profit jumps 24 pc in Q3 to Rs 2,553 crore

New Delhi, Jan 30 (UNI) Larsen & Toubro (L&T) on Monday posted a consolidated net profit of Rs 2,553 crore for the quarter ending December 2022 registering a robust 24% growth over the corresponding period a year ago.
"The PAT (profit after tax) includes an exceptional gain of Rs 97 crore (net), attributed to profit on divestment of the mutual fund business of the financial services segment off-set by a one time charge due to re-measurement of the wholesale loan assets of the financial services segment at fair value," the company said in a statement.
The business conglomerate achieved consolidated revenues of Rs 46,390 crore for the quarter ended December 31, 2022 recording a year-on-year growth of 17%, aided by improved execution in the Infrastructure Projects segment and continued growth momentum in the IT&TS portfolio.
"International revenues during the quarter at Rs 17,317 crore constituted 37% of the total revenue," the company said.
For the nine months ended December 31, 2022, the PAT at Rs 6,484 crore, registered a growth of 28% year-on-year basis.
For the nine months period ending December 2022, the consolidated revenues at Rs 125,006 crore recorded a y-o-y growth of 21% with international revenues during the nine months at Rs 46,025 crore constituting 37% of the total.
"The company received orders worth Rs 60,710 crore at the group level during the quarter ended December 31, 2022, registering a growth of 21% over the corresponding quarter of the previous year. During the quarter, orders were received across multiple segments like oil & gas, public spaces, hydel & tunnels, irrigation systems, ferrous metals and power transmission & distribution," L&T said.
International orders at Rs 15,294 crore during the quarter comprised 25% of the total order inflow.UNI NK
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