Larsen & Toubro reported flat revenues for the Dec-20 quarter on consolidated basis at Rs35,596cr. Revenues from the infrastructure segment and development projects were down on yoy basis. At the same time, revenues from Power and IT segments were up on a yoy basis.
For the Dec-20 quarter, the consolidated operating profits were up 3.48% at Rs3,578cr. The operating profits improved due to lower outlay on material and sub-contracting costs in the quarter. The operating margins or OPM expanded from 9.54% in the Dec-19 quarter to 10.05% in Dec-20 quarter.
The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 3.44% at Rs2,648cr on better operational performance in the quarter. PAT margins also improved from 7.06% in Dec-19 to 7.44% in Dec-20.
Financial highlights for Dec-20 compared yoy and sequentially
|
|
Larsen & Toubro |
|
|
|
|
Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 35,596.42 |
₹ 36,242.68 |
-1.78% |
₹ 31,034.74 |
14.70% |
|
Operating Profit (Rs cr) |
₹ 3,577.85 |
₹ 3,457.49 |
3.48% |
₹ 2,621.63 |
36.47% |
|
Net Profit (Rs cr) |
₹ 2,648.33 |
₹ 2,560.32 |
3.44% |
₹ -2,322.01 |
-214.05% |
|
|
|
|
|
|
|
|
Diluted EPS (Rs) |
₹ 16.06 |
₹ 15.38 |
|
₹ -18.70 |
|
|
OPM |
10.05% |
9.54% |
|
8.45% |
|
|
Net Margins |
7.44% |
7.06% |
|
-7.48% |
|
Key takeaways from the Dec-20 quarter results
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The order booked by Larsen & Toubro expanded by 76% on a yoy basis as the revival in capital spending helped the company. Its current order book position as of Dec-20 stood at Rs331,061cr. Global orders accounted for 14% of the total order flow.
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The marginal decline of 1.78% in revenues was largely accounted for by impact on project site execution of the COVID restrictions. The slowdown in Hyderabad Metro Operations also hit the performance of the top line.
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