L&T registers 4.9 percent jump in net profit at Rs 2,467 cr in Q3
New Delhi: Larsen & Toubro registered 4.9 percent jump in consolidated net profit at Rs 2,467 crore in the third quarter of the current fiscal as compared to the same period of the previous fiscal.
The higher profits can be attributed to more profit from IT segment and also because of sale of a commercial property by the company. The profit after tax also included proceeds from the divestment of Rs 209 crore from the discontinued operations for December quarter, towards further adjustments achieved against the sale of electrical and automation business to Schneider Electric SE.
In the December quarter, the company also got the country’s largest EPC contract- High-Speed Rail project.
L&T Group’s order inflow in the December quarter registered growth of about 76 percent over the same period of the previous year and stood at Rs 73,233 crore, L&T said in a regulatory filing.
The global orders for the company in the December quarter constituted 14 percent of overall order inflow. The order inflow for 9 month period ending December 2020 stood at Rs 1,24,846 crore.