Engineering and construction major Larsen & Toubro (L&T) on Wednesday posted a 15.2 per cent rise in its consolidated net profit at Rs 2,352 crore for the quarter ended December 2019 as against a consolidated net profit of Rs 2,041 crore in the year-ago period.
Its consolidated total income during the October-December quarter rose to Rs 36,717.60 crore, against Rs 34,823.08 crore in the year-ago period, the company said in a filing. Total expenses also increased to Rs 33,494.37 crore during the quarter under review as against Rs 31,421.86 crore in the corresponding period of the previous fiscal.
However, unaudited standalone net profit was at Rs 1,343.50 crore for the December quarter as against Rs 1,634.78 crore in the year-ago period.
“The company successfully won new orders worth Rs 41,579 crore at the group level during the quarter ended December 31, 2019, amid subdued business environment. International orders during the quarter at Rs 17,901 crore increased to 43 per cent of the total order inflow, on large value order wins in power transmission and distribution and metallurgical and material handling business,” an L&T statement said.
The consolidated order book of the group stood at Rs 3,06,280 crore as on December 31, 2019, registering a reasonably high growth of 5 per cent over March 2019. International orders constituted 24 per cent of the total order book.
“The company is able to tide over the challenging environment with its strong balance sheet, diversified portfolio and robust order book which act as a bulwark against short term economic cyclicality,” L&T said.
It added that infrastructure segment secured orders of Rs 28,115 crore, during the quarter ended December 2019, registering growth of 28 per cent compared to previous year.
Order wins were mainly in power transmission, distribution business, industrial water systems, network management system and freight facility package, the company said.
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