Larsen and Toubro posted its earnings for the quarter ended March after market close on Wednesday.

What Happened: The infrastructure giant’s net profit for the quarter came in at ₹4396.12 crore, up around 10% from the ₹3,986 crore posted in the same quarter last year. The company’s revenue from operation grew by around 12% to reach ₹67,078.68 crore compared to the ₹58,335 crore posted in the March quarter of 2023.

The topline was above estimates of around ₹65,500 crore, bottom line, on the other was in line with the estimates of around ₹4,500 crore. The order inflow for the quarter ended March stood at ₹ 72,150 crore, registering a de-growth of 5%.

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Domestic order inflow grew by 17% as compared to the corresponding quarter of the previous year. International orders at ₹ 25,217 crore constituted 35% of the total. The company disclosed that the consolidated order book of the group as of March 31, 2024, was at ₹ 4.75 lakh crore, up 20% year-on-year.

The Infrastructure segment secured orders worth ₹ 31,340 crore, during the quarter, down 24% over the corresponding quarter of the previous year, “largely due to the receipt of some high-value orders in the previous year,” the company said in a press release. The segment recorded 22% YoY growth in customer revenues at ₹38,035 crore.

Price Action: L&T’s share price was up 1.72% to close at ₹3,486.85 on Wednesday.

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