L&T Q1 Results: Cons PAT jumps 12% YoY to Rs 2,786 cr, revenue rises 15%

Engineering and construction major Larsen and Toubro (L&T) on Wednesday reported 12% year-on-year growth in its consolidated net profit to Rs 2,786 crore for the quarter ended June 30, 2024. The profit missed the ET Now Poll estimates of Rs 2,989 crore.

Revenue from operations increased 15% year-on-year to Rs 55,120 crore, led by robust execution witnessed in the projects and manufacturing (P&M) portfolio on the back of a large order book.

The company received orders worth Rs 70,936 crore at the group level in the first quarter, registering year-on-year growth of 8%, aided by the strong ordering momentum in the Middle East.

During the quarter, orders were received across multiple segments like offshore vertical of hydrocarbon business, renewables, transmission and distribution, roads, nuclear power, hydel and tunnel, ferrous metals, health, and the precision engineering sectors.

International orders stood at Rs 32,598 crore during the quarter, which comprised 46% of the total order inflow.

The consolidated order book of the company stood at Rs 4.9 lakh crore at the end of June quarter with the share of international orders at 38%.

The company has clocked an EBITDA of Rs 5,615 crore, which is an increase of 15% year-on-year. Margins for the same period were at Rs 10.2%.

"We have achieved steady growth across all financial parameters in the first quarter, despite the geopolitical situation across the globe. Amid various transformational shifts happening worldwide, we are well-positioned to grasp these opportunities with our expertise in our traditional P&M business and technology driven new-age businesses," said SN Subrahmanyan, Chairman and MD, L&T.