L&T gains after bagging major order for hydrocarbon business

Larsen & Toubro (L&T) rose 1.55% to 3,597.35 after the company 's Hydrocarbon Business, L&T Energy Hydrocarbon has secured major order for gas pipeline project from a prestigious client in the Middle East.

As per L&T's classification, the value of the said contracts lies between Rs 5,000 crore and Rs 10,000 crore.

The scope of the project includes engineering, procurement, and construction of two new 56 pipelines along with associated scraper receivers and launchers and main line isolation valve (MLIV) Stations running parallel to the existing pipeline corridor.

Subramanian Sarma, whole-time director & senior executive vice president (Energy), L&T, said, This is the largest cross-country pipeline EPC project awarded to us till date and we are excited to bring our expertise to this strategic project.

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer focused approach and the constant quest for top class quality has enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

The EPC company reported 15.45% jump in consolidated net profit to Rs 2,947.36 crore on 18.84% increase in revenue from operations to Rs 55,127.82 crore in Q3 FY24 over Q3 FY23.

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