L&T reports 5% YoY jump in net profit; order book crosses ₹5 lakh crore milestone

The company reported a robust order inflow of ₹80,045 crore in Q2FY25, out of which 63% of the orders came from the international markets, amounting to nearly ₹50,000 crore. Post the robust order inflow during the quarter, the total order book of the company crossed ₹5 lakh crore milestone.

On the top line, the company reported a 21% YoY jump in consolidated revenue to ₹61,555 crore, compared to ₹51,024 crore in the previous year's corresponding quarter. International revenues during the quarter at ₹32,057 crore constituted 52% of the total revenues, largely reflective of a robust international P&M order book.

On the operational front, the quarter's EBITDA jumped by 13% YoY to ₹6362 crore, compared to ₹5632 crore in the previous year's similar quarter.

However, the quarter's EBITDA margins declined by 70 bps to 10.3%, largely due to the high cost of raw materials and construction materials consumed. Construction materials, which comprise a major part of the total expenditure, jumped by 45% YoY to ₹17,032 crore as compared to ₹11,717 crore in Q2FY24.

The bottom line grew by 5.5% YoY as the net profit for the quarter stood at ₹3,395 crore compared to ₹3,222 crore. The overall tax expense for the quarter also jumped by 28% YoY ₹1442 crore.

Commenting on the results, 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 company's projects and manufacturing businesses continue to perform well. We have a record order book ₹5 lakh crore+, which is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management.

Larsen & Toubro is a $27 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for over eight decades.

Ahead of the results, L&T's share price closed in positive territory at ₹3,402 apiece on the NSE, up 0.6%.