L&T's Q1FY22 consolidated net profit rise over 280%

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Mumbai, July 26 (IANS) Industrial conglomerate Larsen and Toubro (L&T) on Monday reported a rise of 287 per cent increase in its consolidated net profit for the quarter ended June 30 of financial year 2021-22.

The company's Consolidated Profit After Tax (PAT) of Rs 1,174 crore registered substantial y-o-y growth over the corresponding quarter of the previous year.

"The overall PAT (Profit After Tax), including the PAT from discontinued operations for the quarter April to June 2019, grew by 21.2 per cent to Rs 1,473 crore vis-a-vis Rs 1,215 crore for the corresponding quarter of the previous year," the company said in a statement.

Besides, the company earned a consolidated revenue of Rs 29,335 crore for the quarter ended June 30, 2021, registering a y-o-y growth of 38 per cent.

This was attributed to healthy execution of projects despite the second wave of Covid-19 affecting operations at many locations.

"Project progress was impacted with regional lockdowns, shortage of industrial oxygen and supply chain disruptions. International revenues during the quarter at Rs 11,186 crore constituted 38 per cent of the total revenue."

"The company bagged orders worth Rs 26,557 crore at the Group level during the quarter ended June 30, 2021 registering a growth of 13 per cent over corresponding period of the previous year."

During the quarter, the company said it received orders in various segments like metros, rural water supply, minerals and metal, residential, power transmission and distribution, power, and hydrocarbon offshore sectors.

"The consolidated order book of the group was at Rs 323,721 crore on June 30, 2021, with international orders at 20 per cent of the total order book."

--IANS

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