Larsen & Toubro PAT rises 12 pc to Rs 2,786 cr in Q1; order book at Rs 71000 cr
New Delhi, Jul 24 (PTI) Larsen & Toubro on Wednesday posted a 12 per cent rise in consolidated profit after tax (PAT) to Rs 2,786 crore in the June quarter, on the back of higher revenues.
The company has achieved consolidated revenues of Rs 55,120 crore for the first quarter of the current fiscal, registering a year-on-year growth of 15 per cent with a robust execution witnessed in the projects and manufacturing portfolio on the back of a large order book, Larsen and Toubro said in a statement.
International revenues during the quarter at Rs 26,248 crore constituted 48 per cent of the total revenues.
Further, the company received orders worth Rs 70,936 crore at the group level during the quarter, registering a growth of 8 per cent, aided by the strong ordering momentum in the Middle East.
The company's CMD S N Subrahmanyan said, "We have achieved steady growth across all financial parameters in Q1, 2024-25, despite the geopolitical situation across the globe. Amidst various transformational shifts happening worldwide, we are well-positioned to grasp these opportunities.
In the semiconductor sector, the company recently entered into a share purchase agreement with SiliConch Systems, a Bengaluru-based chip design company, he said.
On the Union Budget, he said it is a detailed roadmap towards pursuit of a Viksit Bharat by 2047. With the expected policy continuation in India, the tailwinds in the Indian economic growth is likely to continue which will facilitate the group to achieve its Lakshya 26 targets.
Sharing his outlook for the sector, Subrahmanyan said India's domestic economic activity has remained resilient with manufacturing activity continuing to gain ground on the back of strengthening domestic demand. The service sector maintained its buoyancy, as evident from available high-frequency indicators.
Revival in rural demand is getting a fillip from improving farm sector activity. With an expected above-normal south-west monsoon, kharif production is likely to get a boost and reservoir levels likely to be replenished which were running low due to extreme heat.
Inflation, however, continues to require close monitoring by the policymakers. With the Union Elections behind and the likely political stability, the government's continued thrust on capex and business optimism augur well for investment activity.
However, the pace of infrastructure progress could slow down due to skilled labour shortage in certain sectors. The Indian economy is at an inflection point in its path towards greater transformational changes that will bring about more stability and growth.
Homegrown L&T is one of the largest infrastructure companies with presence in over 50 countries. PTI ABI TRB
