Sat, 21 May 2022

Mumbai [India], January 28 (ANI): LarsenToubro (LT) said on Friday its consolidated net profit for the third quarter of the current financial year declined by 17 per cent to Rs 2,055 crore when compared with the same period of last year.

The company has posted consolidated revenue of Rs 39,563 crore for the quarter ended December 31, 2021, registering a year-on-year growth of 11 per cent.

"The increase reflects an improving project execution momentum and robust growth in the ITTS portfolio," LT said in a statement.

The company's international sales during the quarter stood at Rs 14,541 crore, which is 37 per cent of the total revenue.

For the nine months period ended December 31, 2021, the consolidated revenues stood at Rs 103,671 crore recording a y-o-y growth of 18 per cent with international revenues during the nine month period at Rs 38,045 crore constituting 37 per cent of the total.

For the first three quarters of the current financial year, the company's consolidated net profit after tax declined by 39 per cent to Rs 5,049 crore compared with the corresponding period of last year.

LT bagged orders worth Rs 50,359 crore during the quarter ended December 31, 2021, registering a decline of 31 per cent over the corresponding period of the previous year. In 2020-21 LT had secured the biggest ever EPC contract for Mumbai Ahmedabad High Speed Rail in the Infrastructure segment.

During the third quarter of the current financial year, orders were received in various businesses viz Hydrocarbon Offshore, Metros, Rural Water Supply, Minerals and Metal, Public Space, Health Infrastructure and Power Transmission and Distribution, LT said.

The International orders at Rs 20,521 crore during the quarter comprised 41 per cent of the total order inflow, with receipt of large value international orders in Hydrocarbon Offshore, it added. (ANI)

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