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Q3 contracts push L&T order book to all-time high

Meanwhile, L&T’s consolidated net profits for Q3 rose 4.87 per cent y-o-y to Rs 2,466.71 crore. While revenues dipped 1.78 per cent y-o-y to Rs 35,594.4 crore, the operating margin came in at 12 per cent, up 60 basis points y-o-y.

By: ENS Economic Bureau | Mumbai |
January 26, 2021 3:46:47 am
While revenues dipped 1.78 per cent y-o-y to Rs 35,594.4 crore, the operating margin came in at 12 per cent, up 60 basis points y-o-y.

Larsen and Toubro (L&T) on Monday said its consolidated order book stood at a record Rs 3.31 lakh crore at the end of December 2020, up 9 per cent year-on-year, following the highest-ever orders won in a quarter. “The several large contracts bagged in Q3FY21 include the High Speed Rail; order inflows jumped 76 per cent y-o-y to Rs 73,233 crore,” L&T said in a filing. International orders account for about a fifth of the total order book. The order inflow in Q3 stood at Rs 1,24,846 crore, it said.

Meanwhile, L&T’s consolidated net profits for Q3 rose 4.87 per cent y-o-y to Rs 2,466.71 crore. While revenues dipped 1.78 per cent y-o-y to Rs 35,594.4 crore, the operating margin came in at 12 per cent, up 60 basis points y-o-y.

“Both India and Middle East markets are tough. In India lot depends on the kind of push the government is going to give to infrastructure, in Middle East quite a bit depends on oil prices but at the same time they want to create jobs and keep population engaged, so we are hopeful that we will be able to keep the momentum that we have at the moment,” SN Subrahmanyan, CEO and managing director, L&T, said. —FE

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