L&T turns to international business, financial services to power growth

Faced with a sluggish local market, L&T has turned to international business, software and financial services to power growth

With private sector investments almost absent in the past few years, it has been a tough time for India’s capital goods segment. In one of the toughest years, however, Larsen & Toubro (L&T) has managed to maintain steady revenue growth, profitability and inflowof orders.

The company’s diversified work portfolio, its top management said, has helped it keep up the momentum. As a result, its revenue grew 18 per cent year-on-year (YoY) to Rs 1.41 trillion, while net profit was up 21 per cent to Rs 8,905 crore in FY19.

Analysts tracking the company say L&T has consistently been delivering in