L&T Q2 profit rises 45 pc to Rs 3,223 crore
New Delhi: Larsen & Toubro (L&T) on Tuesday reported 44.5 per cent increase in consolidated net profit to Rs 3,222.63 crore for the quarter ended September 30, 2023, on the back of higher revenue from operations.
The company had posted a profit of Rs 2,228.97 crore in the year-ago period, L&T said in a regulatory filing.
In a conference call, L&T CFO R Shankar Raman said that as far as the profit growth is concerned it basically arises out of 26 per cent growth in revenue.
“And also the fact that we have been able to have the monetisation…coming out of the sale of land in one of our subsidiaries, mainly Hyderabad Metro, and also the fact that our treasury income has grown by almost 60 per cent at the H1 level as compared to H1 of the previous year…So the combination of all this has enabled the profit to grow by 45 per cent,” he explained.
