L&T Q3 consolidated net profit up 15% at Rs 2,560 crore

Engineering and construction major Larsen & Toubro (L&T) on Wednesday posted a 15 per cent rise in its consolidated net profit at Rs 2,560.32 crore for the quarter to December 31, on the back of higher income.

The company had clocked a consolidated net profit after tax and share in profit/(loss) of joint ventures/associates from continuing operations of Rs 2,218.68 crore in the year-ago period, the company said in a regulatory filing to the BSE.

Its consolidated total income during October-December increased to Rs 36,717.60 crore, against Rs 34,823.08 crore in the year-ago period, the filing said.

Total expenses also increased to Rs 33,494.37 crore during the quarter under review as against Rs 31,421.86 crore in the corresponding period of the previous fiscal.

"The company successfully won new orders worth Rs 41,579 crore at the group level during the quarter ended December 31, 2019, amid subdued business environment.

International orders during the quarter at Rs 17,901 crore increased to 43 per cent of the total order inflow, on large value order wins in power transmission and distribution and metallurgical and material handling business," the company said in a statement.

The consolidated order book of the group stood at Rs 3,06,280 crore as on December 31, 2019, registering a reasonably high growth of 5 per cent over March 2019.