L&T Q1 profit zooms 46% to Rs893 crore
Engineering and construction conglomerate Larsen & Toubro (L&T) on Friday registered a 46 per cent jump in consolidated net profit to Rs 893 crore for the first quarter ended June 30, 2017.
The company, which said first quarter of FY18 witnessed lower economic growth in the country in the aftermath of demonetisation, had clocked a consolidated net profit of Rs 610 crore in the corresponding quarter of previous fiscal.
"Consolidated Profit After Tax (PAT) for the quarter ended June 30, 2017 at Rs 893 crore was higher by 46 per cent vis- -vis PAT of Rs 610 crore for the corresponding quarter of the previous year," the company said in a statement.
Larsen & Toubro recorded Consolidated Gross Revenue of Rs 23,990 crore for the quarter under review, registering an increase of 10 per cent on an year-on-year basis. The International revenue during the quarter at Rs 8,233 crore constituted 34 per cent of the total revenue.
"The company won new orders worth Rs 26,352 crore at consolidated level during the quarter ended June 30, 2017 in a challenging business environment. International orders at Rs 7,885 crore constituted 30 per cent of the total order inflow. Major orders during the quarter were secured by infrastructure segment," it said. Consolidated Order Book of the group stood at Rs 262,860 crore as on June 30, 2017. pti