Larsen & Toubro logs 15.5 per cent rise in profit at Rs 2,948 crore
Engineering and infrastructure conglomerate Larsen & Toubro (L&T) reported a 15.5% rise in consolidated net profit at Rs 2,948 crore for the quarter ended December, on strong orderbook inflows and execution momentum. However, it missed Street estimates of net profit of Rs 3,246 crore.
The conglomerate had posted a net profit of Rs 2,553 crore for the same period in the previous fiscal. During the reporting quarter, L&T’s consolidated revenue rose 18.8% to Rs 55,128 crore from Rs 46,390 crore recorded during the same period a year ago. Its Ebitda rose 13.5% to Rs 5,759 crore compared to the year-ago quarter, the company said in a statement.
