L&T bags large orders for T&D biz

The construction major said its power transmission & distribution business secured large contracts.

Larsen & Toubro (L&T) on Monday (7 September) announced that it has secured a 'large' order to establish transmission lines and substations associated with a major project in Telangana. It secured another order from Konkan Railway Corporation to provide electrical & mechanical systems for two tunnels in the Katra Dharam section of the Udhampur Srinagar Baramulla rail link project.

Further, a power distribution package to replace bare conductors with aerial bunched cables has been received from North India. Additional orders have been received from ongoing transmission line projects.

In Oman, the business has bagged a package to construct 400 kV Overhead Lines connecting three grid stations. Meanwhile, a repeat order has been received from a reputed client in the Middle East.

As per the L&T's classification, the valuation of the 'large' order stands between Rs 2,500 crore and Rs 5,000 crore.

Shares of L&T were trading 0.86% lower at Rs 934.75 on BSE, tracking weak market sentiment. The scrip traded in the range of Rs 916.10 to Rs 950.25 so far during the day.

On a consolidated level, L&T reported a 67.3% decline in net profit to Rs 645.07 crore in Q1 June 2020 from Rs 1,972.52 crore in the same period last year. Net sales stood at Rs 21,259.97 in Q1 FY21, declining 28.3% from Rs 29,635.95 crore in Q1 FY20.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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