L&T's Q3 consolidated net profit up 16.5%

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SME Times News Bureau | 22 Jan, 2020
Infrastructure and engineering conglomerate Larsen & Toubro (L&T) on Wednesday reported a 16.48 per cent increase in its consolidated net profit for the quarter ended December at Rs 2,751.66 crore.

It includes the profits from both continuing and discontinued operations. During the October-December period of financial year 2018-19, the company had reported a consolidated net profit from both continuing and discontinued operations of Rs 2,362.28 crore.

During the quarter ended December, the company recorded a total income of Rs 36,717.60 crore, higher by 5.4 per cent from Rs 34,823.08 crore earned during the correponding period of the last fiscal.

In a regulatory filing, the company said that for the nine months ended December 31, 2019, overall profit after tax including the discontinued operations was Rs 6,352 crore with an increase of 15.8 per cent over the profits for the same period last year.

On its infrastructure segment, the company said that in this, the company secured orders of Rs 28,115 crore, during the quarter ended December 31, 2019, registering growth of 28 per cent compared to previous year.

Order wins were mainly in power transmission and distribution business, industrial water systems, network management system and Freight facility package. International orders at Rs 11,595 crore constituted 41 per cent of the total order inflow of the segment during the quarter, with large value order wins in Africa and Middle East.