Engineering and construction conglomerate Larsen & Toubro (L&T) has reported an operationally stronger than expected quarter with order inflows beating street projections.

The net profit has risen by 12.6 percent to Rs 2,648 crore versus Rs 2,352 crore and against an estimation of Rs 2,110 crore. The revenue for the quarter, however, is down 1.8 percent at Rs 35,596 crore versus Rs 36,424 crore when compared to the same period in the last fiscal (YoY).

The company reported its quarterly EBITDA up 4 percent at Rs 4,280 crore versus Rs 4,117 crore. The street was working with Rs 4,163 crore.

The EBITDA margin has improved contrary to expectations and has come in at 12 percent versus vs 11.4 percent in the year-ago period.

A closer reading shows that higher other income (up 127 percent at Rs 1065 crore vs Rs 469 crore) aided the bottom line.

The Order inflow in the third quarter was reported at Rs 73,233 crore against an estimation of Rs 70,000 crore by analysts.

Read all Earnings here.

(Edited by : Abhishek Jha)

First Published:Jan 25, 2021 5:48 PM IST