L&T Q1 net rises 45% to ₹1,702 crore

Larsen & Toubro Ltd. consolidated first-quarter net profit rose 45% to ₹1,702 crore due on account of an increase in revenue.

During the quarter, the company achieved consolidated revenue of ₹ 35,853 crore, a growth of 22% y-o-y ‘with strong execution witnessed in the infrastructure segment and riding on the sustaining growth momentum in the IT&TS portfolio.’

“The company has performed very strongly during the quarter,” R. Shankar Raman, whole time director & CFO, said during a post-earning conference call. “It performed well on all parameters uniformly.”

International revenue at ₹13,235 crore constitutes 37% of the total revenue. The company secured orders worth ₹41,805 crore at the group level during the quarter, registering a growth of 57%.

Orders were received across diverse segments like Public Spaces, Metros, Water Management & Waste Water, Minerals and Metal, Factories, Data Centers, Defence, Power Transmission and Distribution and Hydrocarbon Offshore sectors.

International orders at ₹17,842 crore comprised 43% of the total order inflow. The consolidated order book of the group is at a record ₹3,63,448 crore as on June 30, with international orders having a share of 28%, the company said in a filing. Effective April 1, the operating segments have been re-organised, in line with the business strategy to be adopted by the Company under its 5-year plan (Lakshya 2026).

Some of the existing segments have been realigned to reflect the Group’s Lakshya 2026 strategy. As per the changes reporting has been done in seven segments rather than nine segment earlier.

Infrastructure Project Segment, the biggest one of the company remains as it is. The new segment Energy Projects constitutes the current segments of Hydrocarbon and Power to reflect the Group’s entry into Green Energy space and integrated pursuit of opportunities in a rapidly transforming Energy sector

Hi-Tech Manufacturing comprises the Heavy Engineering and Defence Engineering businesses which have been combined, to leverage the extensive engineering, manufacturing and fabrication expertise across the various customer segments.

IT & Technology Services segment comprises the listed IT&TS subsidiaries of the Group viz. L&T Infotech, L&T Technology Services and Mindtree. And this will now also include the new-age businesses of Data Centres and E-commerce / Digital Platforms (both the businesses were earlier reported under ‘Others’ segment in the previous year).

The others include Financial Services Segment, Development Projects and Other segments. For the current year the company has given a revenue and order book guidance of 12 to 15%.