L&T Q3 results: Net profit falls 17% to Rs 2,055 cr; revenue rises 11%

The consolidated order book of the group was at Rs 3.4 trillion as on December 31, 2021, which gives multi-year revenue visibility, the company said in a stock exchange filing

Infrastructure major Larsen & Toubro on Friday reported 17% fall in consolidated net profit at Rs 2,055 crore for the quarter ending December 31, 2021 as higher raw material and fuel prices impacted margins. The company posted net profit of Rs 2,467 crore in the year-ago period. 

Consolidated revenue from operations rose 11% to Rs 39,563 crore as against Rs 35,596 crore in Q3FY21.

The consolidated order book of the group was at Rs 3.4 trillion as on December 31, 2021, with international orders having a share of 24%, which gives multi-year revenue visibility, the company said in a stock exchange filing. 

The company bagged orders worth Rs 50,359 crore during the quarter ended December 31, 2021, registering decline of 31% over the corresponding period of the previous year, since the previous year had the benefit of the company securing the biggest ever EPC contract for Mumbai Ahmedabad High Speed Rail in the infrastructure segment.

On Friday, L&T's scrip on BSE closed 0.65% lower at Rs 1,898.80.

During the third quarter of the current financial year, orders were received in various businesses viz Hydrocarbon Offshore, Metros, Rural Water Supply, Minerals and Metal, Public Space, Health Infrastructure and Power Transmission and Distribution, L&T said.

The international orders, at Rs 20,521 crore, during the quarter comprised 41% of the total order inflow, with receipt of large value international orders in Hydrocarbon Offshore, it added.

The company's international sales during the quarter stood at Rs 14,541 crore, which is 37 per cent of the total revenue.

Infrastructure segment secured orders of Rs 25,330 crore, down 44% over the previous year. The heavy engineering segment recorded an order inflow of Rs 1,288 crore, recording a growth of 29%.

On the outlook, the company said in the backdrop of the current economic environment, it continues its planned path of winning targeted orders, focussing on profitable execution of its large order book and leveraging the strong growth momentum in its IT & TS portfolio, along with other value enhancing measures.