Larsen -; Toubro Q1FY23 PAT up 44.93% at Rs1,702 crore on inventory efficiency gains

27 Jul 2022 , 08:39 AM

Larsen & Toubro Ltd, reported 22.22% growth in total revenues yoy for the Q1FY23 quarter on consolidated basis at Rs35,853 crore. On a sequential basis, revenues were down for the quarter by -32.16%.

For Q1FY23, L&T saw solid growth across key verticals like infrastructure projects, energy projects and IT services. However, financial services revenues were down yoy.

On a sequential basis, there was a sharp fall in the infrastructure projects which almost halved in top line. International revenues at Rs13,235 crore accounted for 37% of total revenues.

June quarter order flow was Rs41,805 crore while the overall order book position at a consolidated level stood at Rs363,448 crore.

The consolidated net profit for Q1FY23 was up 44.9% yoy at Rs1,702 crore while it was down on a sequential basis by -52.99% due to stalling of infrastructure project flows.

Operating margins stood at 11.04% compared to 10.81% in year ago period. Debt service coverage ratio fell sharply on a yoy and sequential basis. Net margins were 4.75% in Q1FY23 quarter compared to 4.00% in Q1FY22. NPM was lower as compared to 6.85% in Q4FY22.

Financial highlights for Jun-22 compared yoy and sequentially

	Larsen & Toubro
Rs in Crore	Jun-22	Jun-21	YOY	Mar-22	QOQ
Total Income (Rs cr)	₹ 35,853.20	₹ 29,334.73	22.22%	₹ 52,850.67	-32.16%
Net Profit (Rs cr)	₹ 1,702.07	₹ 1,174.44	44.93%	₹ 3,620.69	-52.99%
Diluted EPS (Rs)	₹ 12.10	₹ 8.35		₹ 25.75
Net Margins	4.75%	4.00%		6.85%