Larsen & Toubro (L&T) posted a 5% jump in net profit at Rs 3395 crore in Q2FY25 as compared to Rs 3,222.63 crore. The company beat analyst estimates who have estimated a net profit of Rs 3,205 crore.
The engineering and construction major’s Q2FY25 revenue rose 21 % to Rs 61,555 crore in Q2FY25 as compared to Rs 51,024 crore, beating analyst estimates of Rs 57,622 crore.
The revenue growth was aided by accelerated progress in the various businesses in projects and manufacturing (P&M) portfolios. International revenues during the quarter at Rs 32,057 crore constituted 52% of the total revenues, largely reflective of a robust international P&M order book, the company said.
The company posted a 13 % jump in EBITDA at Rs 6362 crore in Q2FY25 as compared to Rs 5,632 crore in Q2FY25. Analysts had estimated an EBITDA of Rs 6,142 crore.
Q2FY24 and H1FY25 net profit of the previous year had the benefit of a non-recurring gain of Rs 512 crore from transit-oriented development (TOD) monetisation in the Hyderabad Metro concession. Excluding this TOD monetisation gain, the profit (PAT) for Q2FY25 and H1FY25 have registered a growth of 25% and 19% respectively, over the corresponding period of the previous year, the company said.
For H1FY24, the consolidated revenues recorded a y-o-y growth of 18% at Rs 116,674 crore with international revenues during the half-year at Rs 58,305 crore constituting 50% of the total revenues. For H1FY25 the profit rose to Rs 6,181 crore, registering a growth of 8% on y-o-y basis.
The company bagged orders of Rs 80,045 crore at the group level during the Q2FY25, registering a sequential growth of 13% and a y-o-y degrowth of 10%.
“The corresponding quarter of the previous year had the benefit of receipt of two international ultra-mega orders in the hydrocarbon business,” it said.
During the quarter, multi-geography orders were received across different segments like renewables, transmission & distribution, roads & runways, urban transit, and nuclear power, among others, it said. International orders at Rs 50,083 crore during the quarter comprised 63% of the total order inflow.
The consolidated order book of the group at the end of Q2FY25 was at Rs 5,10,402 crore, registering a growth of 7% over Q4FY2024, with the share of international orders at 40%, it said.
S.N. Subrahmanyan, chairman and managing director said: “ We have delivered yet another quarter of strong financial performance despite the continuing global macroeconomic volatility. The projects & manufacturing businesses of the Company continue to perform well. We have a record order book of over Rs 5 lakh crore that is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management. “
He said the company’s new transformative investments in green energy, data centres, digital platforms and semiconductor design will, besides improving its digital and sustainability footprint, complement our current business portfolio as well. India’s growth story remains intact on the back of continued public capex spending and a visible recovery in private investments as well. “We expect the Middle East Capex momentum to remain healthy. The Company remains committed to delivering a sustained performance of growth.” He said.
From: financialexpress
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