Net Profit Jumps 10% YoY To Rs 3,621 Crore; Revenue Up To Rs 52,851 Crore

Engineering major Larsen & Toubro (L&T) on Thursday reported a 10 per cent jump in its net profit to Rs 3,620.69 crore for the March 2022 quarter, compared with Rs 3,292.81 crore in the year-ago period. Its consolidated revenue during January-March 2022 also rose 10 per cent year-on-year to Rs 52,851 crore.

The company’s international sales during the quarter stood at Rs 17,550 crore, which constituted 33 per cent of the total revenue, according to a BSE filing.

“The consolidated net profit after tax for the quarter ended March 31, 2022, at Rs 3,621 crore registered a growth of 10 per cent over the corresponding quarter of the previous year, in line with revenue growth,” L&T said in a statement.

For the full financial year, L&T’s consolidated net profit after tax (excluding exceptional items and discontinued operations) for 2021-22 jumped 23 per cent year-on-year to Rs 8,572 crore. Its revenue jumped 15 per cent to Rs 1,56,521 crore in FY22.

Its board of directors has recommended a final dividend of Rs 22 per equity share for the approval of shareholders, an increase of 22 per cent per share over the previous year.

“The company secured orders worth Rs 1,92,997 crore at the group level during the year ended March 31, 2022, registering a growth of 10 per cent over the previous year. During the year, major traction was seen in the international region, especially from the Middle East, where the company bagged large value orders during the year, taking the share of international orders to 44 per cent of the total order inflow, as compared to 27 per cent in the previous year,” L&T said in a statement.

It bagged orders worth Rs 73,941 crore during the quarter ended March 31, 2022, registering a strong growth of 46 per cent over the corresponding quarter of the previous year.

Its infrastructure business secured orders of Rs 45,054 crore during the quarter ended March 31, 2022, registering a growth of 44 per cent over the corresponding quarter of the previous year, with various orders secured across sub-segments. International orders constituted 46% of the total order inflow for the quarter.

“The segment order book stood at Rs 2,60,624 crore as on March 31, 2022, with the share of international orders at 22 per cent,” the company said.

Its hydrocarbon segment secured orders valued at Rs 7,402 crore during the quarter ended March 31, 2022, registering substantial growth over the corresponding quarter of the previous year with receipt of a large value order in the Offshore vertical. International orders constituted 35 per cent of the total order inflow. “The segment order book was at ₹ 56,398 crore as on March 31, 2022, with the international order book constituting 60 per cent,” L&T said.

L&T’s power segment registered an order inflow of Rs 207 crore for the quarter ended March 31, 2022.

The company’s heavy engineering segment recorded an order inflow of Rs 720 crore during the quarter ended March 31, 2022, recording a decline of 60 per cent compared to corresponding quarter of the previous year, which had a large value domestic order. Export orders constituted 47 per cent of the total order inflow. “The order book of the segment was at Rs 4,714 crore as on March 31, 2022, with the share of export orders at 39 per cent.”

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