L&T's net profit jumps four-fold at Rs 1,174 cr for Q1FY22
New Delhi: Infra player Larsen & Toubro’s consolidated net profit jumped four-fold at Rs 1,174 crore for the first quarter of the current fiscal as compared to a profit of Rs 303 crore in the same quarter of the previous fiscal when the pandemic had forced a lockdown.
The revenues for the first quarter of the ongoing fiscal jumped nearly 38 percent at Rs 29,335 crore as against Rs 21,260 crore clocked in in Q1 of the previous fiscal.
"Project progress was impacted with regional lockdowns, shortage of industrial oxygen and supply chain disruptions. The International revenues during the quarter at Rs 11,186 crore constituted 38 percent of the total revenue," the company said in a BSE filing.
The EBITDA of the company increased 96 percent at Rs 3,171 crore in the latest quarter as compared to Rs 1,620 crore in the same quarter last year. The EBITDA was 10.8 percent as against 7.62 last year.
The consolidated order increase for the latest quarter increased 13 percent year on year at Rs 26,560 crore. The order book of the company stood at Rs 3.24 lakh crore as on 30 June 2021. The international orders stood at about 20 percent of the overall order book.
"During the quarter, orders were received in various segments like metros, rural water supply, minerals and metal, residential, power transmission and distribution, power and hydrocarbon offshore sectors. International orders at Rs 9,045 crore during the quarter comprised 34 percent of the total order inflow… the company's focus continues to be on the efficient execution of its large order book, working capital reduction, cost optimization through the use of digital technologies aimed at operational efficiencies and driving an agile balance sheet," the company said.
"The company is optimistic of its growth aspirations in the medium term as the economic outlook improves and is committed to the creation of sustainable returns to stakeholders," it said.