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Larsen & Toubro announces earnings for Q2FY22, H1FY22

Posted On : 2021-10-27 23:03:10( TIMEZONE : IST )

Larsen & Toubro achieved Consolidated Revenues of ₹ 34,773 crore for the quarter ended September 30, 2021, registering a y-o-y growth of 12%. The increase is attributed to project execution momentum with easing of regional lockdowns on progressive vaccination coverage and industry leading growth in the IT&TS portfolio. International sales during the quarter at ₹ 12,318 crore constituted 35% of the total revenue.

For the half-year ended September 30, 2021, the Consolidated Revenues at ₹ 64,108 crore recorded a y-o-y growth of 23% with international revenues during the half-year at ₹ 23,505 crore constituting 37% of the total.

The Consolidated Net Profit After Tax (excluding exceptional items and discontinued operations) for the quarter at ₹ 1,723 crore, registered a good growth of 56% over the corresponding quarter of the previous year. The growth is mainly driven by higher profits in the IT&TS portfolio and improved margins from the Projects & Manufacturing portfolio as the pandemic induced stress in previous periods progressively wanes out.

The Consolidated Net Profit After Tax (including exceptional items and discontinued operations) for the quarter at ₹ 1,819 crore includes ₹ 144 crore gain on divestment of stake in hydel power plant in Uttarakhand (a part of the Development Projects Segment) and tax expense of ₹ 47 crore arising on transfer of the NxT Digital Business from the Parent to Mindtree Limited.

For the half-year ended September 30, 2021, Consolidated Net Profit After Tax (including exceptional items and discontinued operations) at ₹ 2,994 crore declined by 49% y-o-y since the corresponding period of the previous year included the one-time gain on divestment of the Electrical & Automation business.

The Company bagged orders worth ₹ 42,140 crore during the quarter ended September 30, 2021, registering a robust growth of 50% over the corresponding period of the previous year. Orders were received in various segments like Oil & Gas, Metros, Rural Water Supply, Minerals and Metal, Public Space and Power Transmission and Distribution. The International orders at ₹ 22,116 crore during the quarter comprised 52% of the total order inflow.

On a cumulative basis, the order inflow for the half-year ended September 30, 2021 stood at ₹ 68,697 crore, registering a growth of 33% over the corresponding period of the previous year. International orders at ₹ 31,161 crore during the half-year constituted 45% of the total.

The consolidated order book of the group was at ₹ 330,541 crore as on September 30, 2021, at near record levels, with international orders having a share of 23%.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 1782.80 as compared to the previous close of Rs. 1794.45. The total number of shares traded during the day was 45832 in over 3308 trades.

The stock hit an intraday high of Rs. 1813.00 and intraday low of 1775.25. The net turnover during the day was Rs. 82463636.00.