L&T logs 5% y-o-y growth in Q2 net profit at ₹3,395 Crore

4 Nov 2024 , 09:19 AM

Larsen & Toubro (L&T) announced a 5.4% YoY rise in net profit to ₹3,395.3 Crore for the second quarter ending September 30, 2024. The company reported a net profit of ₹3,223 Crore for the same period in the previous fiscal year, according to a regulatory filing.

The company’s revenue from operations increased by 20.6% to ₹61,554.6 Crore, up from ₹51,024 Crore the previous year. This was due to faster growth in the Projects & Manufacturing (P&M) portfolio. 

In the second quarter of this fiscal, EBITDA climbed by 13% to ₹6,362 Crore from ₹5,632 Crore in the previous year. The EBITDA margin was 10.3% in the reporting quarter, compared to 11% in FY24. 

During the quarter, international revenues were ₹32,057 Crore, accounting for 52% of overall revenues. This was primarily due to a strong international Projects and Manufacturing book.

For the half-year ending September 30, 2024, the consolidated revenues at ₹ 116,674 Crore achieved an 18% year-on-year rise. International revenues at ₹58,305 Crore accounted for 50% of total revenues.

For the half-year ended September 30, 2024, consolidated profit after tax was ₹6,181 Crore, representing an 8% year-on-year increase. In the second quarter and H1, the prior year’s consolidated earnings after tax included a non-recurring gain of ₹512 Crore from TOD monetisation in the Hyderabad Metro concession.

At around 3.24 PM, Larsen & Toubro was trading 6.11% higher at ₹3,616.60 per piece, against the previous close of ₹3,408.35 on NSE. The counter touched an intraday high and low of ₹3,654.95, and ₹3,508.35, respectively.

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