L&T Shares Jump 5% on Strong Q2 Earnings

31 Oct 2024 , 01:06 PM

After Larsen & Toubro (L&T) announced a 5% increase in net profit for the quarter ended September 2024, rising to Rs 3,395 crore from Rs 3,223 crore in the same period last year, the company’s shares surged 4.8% to an intraday high of Rs 3,572 on the BSE on Thursday.

52% of total revenues for the quarter came from overseas, at Rs 32,057 crore. According to the corporate filing, a strong international Projects & Manufacturing (P&M) order book is largely responsible for this impressive performance.

Compared to street predictions of Rs 3,335 crore, this profit number was somewhat higher.

With rapid development in certain Projects & Manufacturing (P&M) divisions, L&T generated consolidated revenue of Rs 61,555 crore for the quarter ending September 30, 2024, representing a 21% year-over-year rise.

In the quarter that concluded on September 30, 2024, the company received group-level orders of Rs 80,045 crore. This indicates a 10% year-over-year decrease but a 13% consecutive rise.

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