Q3 Results 2023: L&T beat estimates; net profit jumps 24% YoY to Rs 46,390 crore on strong order inflows

Larsen & Toubro's (L&T) October-December quarter earnings were better than street's estimates as both the top and bottom lines reported by the company were in double digits.

Aided by robust order inflows, the engineering and construction conglomerate reported consolidated revenues of Rs 46,390 crore during the reporting quarter, recording a 17 per cent year-on-year growth.

The company’s consolidated profit after tax (PAT) was at Rs 2,553 crore, which was up 24 per cent over the corresponding quarter of the previous year, the regulatory filing stated. This was above the street's expectations of Rs 2,492 crore. 

According to the Zee Business research report, the company’s revenue was estimated at Rs 44,904 crore in Q3 of FY23.

Improved execution in the infrastructure projects segment did the trick for the MNC (multi-national company), L&T said in its exchange filing on Monday.

During Q3FY23, L&T received orders worth Rs 60,710 crore at the group level, registering a growth of 21 per cent over Q3FY22.

The consolidated order book of the group was at Rs 386,588 crore as on December 31, 2022, with international orders having a share of 26 per cent, as per the regulatory filing. 

The orders, during the quarter, were received across multiple segments like oil and gas, public spaces, hydel and tunnels, irrigation systems, ferrous metals, and power transmission and distribution.

L&T Outlook: The Company is focused on tapping emerging opportunities with its proven competence in the domains of engineering, design, manufacturing, construction, project management, IT, and financial services and is committed to create sustainable long-term value for its stakeholders.

Larsen & Toubro is an Indian multinational company engaged in engineering, procurement and construction (EPC) projects, hi-tech manufacturing, and services.