Companies

L&T profit rises 45% in June quarter

Our Bureau Mumbai | Updated on January 18, 2018 Published on July 29, 2016

Engineering major Larsen & Toubro, riding high on the increase in revenues and large orders from the hydrocarbon sector, has reported a 45 per cent increase in net profit for the quarter ended June 30.

The group reported ₹609 crore as net profit, which in the year-ago quarter was ₹418 crore.

The revenue from operations jumped by 9 per cent to ₹21,718 crore, which in the year-ago quarter stood at ₹19,865 crore.

The EBITDA increased by 16 per cent to ₹1,910 crore against ₹1,910 crore in previous quarter.

Fresh orders

The engineering giant won fresh orders worth ₹29,702 crore at the consolidated level during the quarter, which is an increase of 14 per cent over the previous quarter.

The international orders stood at ₹13,211 crore constituting 44 per cent of the total order inflow.

Group CFO and whole-time director of L&T R Shankar Raman told media persons on Friday that the increase in the order book has been due to the hydrocarbon business and a large order from Saudi Arabia.

The services business accounts for 19 per cent of the order inflow.

The revenues, which are earned by the services business are accounted as orders, he said.

Published on July 29, 2016
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