L&T puts up decent results in June quarter amid weak macro environment

While order inflow was healthy led by domestic projects, improved execution in select private sector and power segment supported growth

After delivering three straight quarters of strong revenue and profit growth, expectations were high from the country’s largest infrastructure company Larsen & Toubro (L&T). However, its June quarter (Q1) results missed expectations by some margin.

Revenues at Rs 29,636 crore rose 10 per cent year-on-year (YoY), while net profit grew 21 per cent to Rs 1,472 crore in Q1. A Bloomberg poll had pegged revenues at Rs 31,295 crore and net profit at Rs 1,560 crore. However, given that this is the first quarter after the conclusion of the elections, the results do suggest stable growth.

Elections aren’t considered favourable