L&T Net Profit Up 20% for June Quarter
New Delhi: Infrastructure major Larsen & Toubro recorded a 20.46 percent jump in consolidated net profit at Rs 1,360.5 crore for the June quarter of 2019 as compared to Rs 1,129 crore in the corresponding quarter of the previous fiscal. The net sales of the company on a consolidated basis increased by 9.7 percent to Rs 29,635.95 crore for the last quarter, the company said in a filing to the Bombay Stock Exchange.
On a Group level, there was an increase of 11 percent in order for the year which stood at Rs 38,700 crore. Power and infrastructure segments were the major contributors of the new orders.
"Developments such as US sanctions on Iran, volatile oil prices and a re-direction of fiscal focus due to climate change are expected to influence the market sentiment. Amidst this backdrop, the Company however will continue to focus on select opportunities arising from renewable energies, hydrocarbon expansion and significant investments in infrastructure in near-shore geographies beyond Middle East," the company said in the filing.