Engineering and construction conglomerate Larsen & Toubro (L&T) on July 26 reported a 45 percent year-on-year (YoY) jump in net profit at Rs 1,702.07 crore for the first quarter ended June 30, 2022.

In the corresponding quarter last year, the company posted a net profit of Rs 1,174 crore. CNBC-TV18 Polls had predicted a profit of Rs 1,734 crore for the quarter under review.

Total income stood at Rs 35,853.20 crore during the period under review, up 22.2 percent against Rs 29,335 crore in the corresponding period of the preceding fiscal. International revenues during the quarter stood at Rs 13,235 crore constituting 37 percent of the total revenue.

Also Read: Reliance Retail Q1 net zooms 114%, 792 new stores launched in June quarter

At the operating level, EBITDA jumped 24.8 percent to Rs 3,956.7 crore in Q1 FY23 over Rs 3,171 crore in Q1 FY22. EBITDA margin stood at 11.04 percent in Q1 FY23 as compared to 10.8 percent in Q1 FY22. EBITDA is earnings before interest, tax, depreciation and amortisation.

The company secured orders worth Rs 41,805 crore at the group level during the quarter ended June 30, 2022, registering a growth of 57 percent over the corresponding quarter of the previous year.

During the quarter, orders were received across diverse segments like public spaces, metros, water management and waste water, minerals and metal, factories, data centres, defence, power transmission and distribution and hydrocarbon offshore sectors.

Also Read: Axis Bank Q1 net zooms 91%, income from fees grows 34%

The international orders stood at Rs 17,842 crore during the quarter, and comprised 43 percent of the total order inflow. The consolidated order book of the group is at a record Rs 363,448 crore as of June 30, 2022, with international orders having a share of 28 percent.

The results came after the close of the market hours. Shares of Larsen & Toubro Ltd ended at Rs 1,750.45, down by Rs 31.45, or 1.76 percent on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Jul 26, 2022 6:22 PM IST