L&T gains after hydrocarbon biz bags major overseas orders

Larsen and Toubro (L&T) rose 1% to Rs 2,200 after the company's hydrocarbon business, L&T Energy Hydrocarbon (LTEH), has secured major orders from an overseas client.

As per L&T's classification, the value of the orders lies between Rs 5,000 crore to Rs 7,000 crore.

The scope of work comprises engineering, procurement, construction & installation of offshore structures and upgradation of existing facilities.

Organized under offshore, onshore, construction services, modular fabrication and advanced value engineering & technology (AdVENT) verticals, LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers.

LTEH will be executing several domestic and international offshore projects and committed to building its regional presence in geographies that it operates in, by nurturing local skills and talent, improving procurement from local vendors and engaging commercially with local contractors on the foundation of a sustainable workload.

Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide.

The company posted a consolidated net profit of Rs 2,553 crore in Q3 FY23, registering a growth of 24% from Rs 2,055 crore recorded in Q3 FY22. Net sales rose 17.3% year on year to Rs 46,389.72 crore in Q3 FY23.

Powered by Capital Market - Live News