L&T Q1 net soars 46% to Rs 893 cr

Total income rises 10% to Rs 24,375

Reuters 

L&T
(From left) R Shankar Raman, CFO, L&T and S N Subrahmanyan, CEO & MD, L&T at press conference to announce Q1 results in Mumbai (Photo: Kamlesh Pednekar)

Engineering major Larsen & Toubro (L&T) reported 46% jump in consolidated net profit at Rs 893 crore for the quarter ended June 2017 as against Rs 610 crore a year ago, boosted by higher revenue from its infrastructure business.

Total income rose 10% to Rs 24,375 crore as compared to Rs 22,180 crore in June 2016.

Consolidated order book stood at Rs 26,352 crore at quarter end. International order book constituted 26% of total order book for June quarter.

The company is optimistic about growth in medium term as economic outlook improves.

Revenue from the infrastructure segment, which accounted for about 44% of the company's total income in the quarter, rose 15.5% to Rs 10,728 crore.

On Friday, the company stock on BSE closed 2% lower at Rs 1,159.