Larsen and Toubro’s Q2 consolidated net profit surges 32%

Engineering conglomerate Larsen and Toubro (L&T) on Saturday reported a rise of 31.86 per cent in its consolidated profit after tax (PAT) for the second quarter (Q2) ended September 30. The company’s PAT for the quarter stood at Rs 2,020.30 crore against Rs 1,532.15 crore reported during the corresponding quarter of the previous year. Total income from operations for Q2 FY18 was up 5.4 per cent at Rs 26,848.05 crore from Rs 25,474.06 crore reported during the like quarter of 2016-17. According to the company, the consolidated gross revenue rose by six per cent year-on-year to Rs 26,447 crore during the quarter under review. “The company secured orders worth Rs 28,732 crore at the group level during the quarter amidst subdued business environment, policy uncertainties and delayed implementation” L&T said in a statement. “International orders at Rs 10,420 crore constituted 36 per cent of the total order inflow. On a cumulative basis, the order inflow for the half year ended September 30, 2017 stood at Rs 55,084 crore,” it said. The company added that major orders were received by infrastructure and hydrocarbon segments.