L&T Q2 net up 28% to Rs 2,593 cr on strong order inflows

Infrastructure giant Larsen and Toubro (L&T) Wednesday reported a 28.36 per cent year-on-year rise in consolidated net profit to Rs 2,593.41 crore for the quarter ended September on strong order inflows.

It had posted a profit of Rs 2,020.30 crore in the year-ago quarter.

The company's revenue rose by 21 per cent to Rs 32,081 crore in the quarter under review.

L&T chief financial officer and whole-time director R Shankar Raman told reporters here that the company is hopeful of to get majority orders from the public sector, however, is cautious on private sector investments in view of increased economic volatility.

The company retained its forecast of 12-15 per cent increase in revenue and 10-12 per cent increase in order inflows in the current financial year.

"We're likely to meet our forecast as the government spending on infrastructure will increase ahead of the general elections," Raman said, adding, "We are confident internally and don't see any reason to doubt our ability to meet the guidance."
The company's stocks ended 2.11 per cent higher at Rs 1298.35