Q2FY24 Mumbai: Larsen & Toubro (L&T) Tuesday announced a 45 percent year-on-year surge in net profit, amounting to Rs 3,223 crore, in the second quarter of fiscal year 2023-24.
L&T also posted a 19 percent increase in consolidated revenue for Q2FY24 at Rs 51,024 crore compared to the Rs 42,763 crore achieved in the corresponding quarter of the prior fiscal year.
The stronger-than-anticipated sales growth was propelled by favourable conditions in the execution of infrastructure projects and continued expansion in the IT and ITeS portfolio.
During the quarter, L&T announced total orders in the range of Rs 24,500-44,500 crore.
At the group level, L&T secured orders valued at Rs 89,153 crore in Q2, marking a 72 percent increase from the same quarter in the previous year, when orders worth Rs 51,914 crore were won.
Throughout the reporting quarter, orders were received across various sectors, including public spaces, nuclear power, and the irrigation, ferrous metal, health, renewables, and refinery sectors, as stated in a company press release.
International orders amounted to Rs 59,687 crore during the quarter, constituting 67 percent of the total order inflow. Last year, L&T had international orders totalling Rs 17,341 crore, which accounted for 33 percent of the total order inflow.
As of the end of September, the group's consolidated order book stood at Rs 450,734 crore, with international orders making up 35 percent. In the same period last year, L&T concluded with a group consolidated order book of Rs 372,381 crore.
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