Indian multinational conglomerate witnessing in engineering, construction, manufacturing, technology, information technology, Larsen & Toubro reached a milestone with consolidate Revenues of Rs. 55,128 crore for the quarter ended December 31, 2023.
This revenue recorded a y-o-y growth of 19 percent, supported by ramp up in carrying out of the strong order book in the portfolio of Projects and Manufacturing. During the quarter, global revenues estimated at Rs. 24,300 crore added up to 44 percent of the total income.
On behalf of mine months ended December 31, 2023; the combined revenues at Rs. 154,034 crore recorded a y-o-y growth of 23 percent with global revenues throughout the nine months at Rs. 65,220 crore representing 42 percent of the total revenue.
The Chennai-headquartered company reported a Consolidated Profit after Tax (PAT) of Rs 2,947 crore, registering growth of 15% for the quarter ended December 31, 2023 evaluated to the consequent quarter of the previous year. Additionally, when compared to persistent profit of the consequent quarter of the previous year, Profit after Tax (PAT) recorded a remarkable growth of 20 percent.
The company Larsen & Toubro got orders worth Rs. 75, 990 crore at the group level throughout the quarter ended December 31, 2023 and recorded a strong growth of 25 percent on y-o-y basis. During the quarter, orders were received across a range of businesses like Offshore vertical of Hydrocarbon, Solar EPC & Power Transmission, Water Utilities, Buildings & Factories and Minerals & Metals sectors. Global orders are recorded at Rs. 50,562 crore during the quarter encompassed 67 percent of the total order inflow.
Commenting on the tremendous results, S.N. Subrahmanyan, Chairman & Managing Director, Larsen & Toubro says, “We have registered yet another quarter of strong performance, despite the headwinds from a volatile global environment and consequent supply chain constraints. Our nine-month order inflow has crossed the FY’23 level. This is a testament to our wide capability spectrum, diversified presence, and financial strength and most importantly the faith reposed in us by our customers,”
Also he added, “Further, we are committed to promoting sustainability by reducing fossil fuel dependence / exposure, tapping renewable opportunities, using recyclable materials, increasing wastewater recycling, integrating ESG into business initiatives, and collaborating with vendors to build a green supply chain. We are currently witnessing improved Capex spends in both our primary geographies of India and Middle East. Despite continued global macroeconomic and geopolitical volatility we remain positive about the investment spends continuing in the medium term”.
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