L-;T Q1 Results: Profit up 45% year over year to Rs1,702 crore; sales up 22%

27 Jul 2022 , 08:58 AM

Larsen & Toubro (L&T) said on Tuesday that its consolidated net profit for the June quarter increased by 45% year over year (YoY), to Rs1,702.07 crore, compared to Rs1,174.44 crore in the same quarter last year.

Consolidated sales increased 22% year over year to Rs35,853 crore during the quarter as a result of excellent infrastructure execution and ongoing growth momentum in the IT&TS portfolio.

At Rs13,235 crore for the quarter, international revenue represented 37% of overall revenue.

The operating margin for the quarter was 11.04%, down from the quarter ending in March’s 12.34% and the quarter ending in the previous year’s 10.81%.

At the group level, L&T reported securing orders of Rs41,805 crore during the quarter, up 57% YoY.

According to a press release from the company, orders were received during the quarter from a variety of segments, including Public Spaces, Metros, Water Management & Waste Water, Minerals and Metal, Factories, Data Centers, Defense, Power Transmission and Distribution, and Hydrocarbon Offshore sectors.

43% of all orders during the quarter came from abroad, totalling Rs17,842 crore. As of June 30, the group’s combined order book was at a record high of Rs363,448 crore, with 28% of those orders coming from outside.