Larsen and Toubro Q3 FY26 results: Net profit dips 4%, revenue rises to ₹71,450 crore YoY; order book crosses ₹7 lakh crore

The total consolidated PAT for the quarter at ₹3,215 crore includes a one-time material provision of ₹1,191 crore (net of tax & NCI) towards employee benefits arising from the implementation of the new labour codes which has been classified under Exceptional Items.

L&T’s revenue from operations for the quarter under review was at ₹71,450 crore, marking a growth of 10.49% from ₹64,668 crore reported in the third quarter of FY25. This was driven by steady execution progress across the various businesses within the Projects & Manufacturing (P&M) portfolio, the firm said. Its international revenues were ₹38,775 crore, constituting 54% of total revenues.

For Q3 FY26, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 18.5% year-on-year (YoY) to ₹7,417 crore as against ₹6,255 crore in Q3 FY25. Its margin expanded at 10.38% in contrast to 9.67%.

In the reporting quarter, L&T said it has secured orders worth ₹135,581 crore, reflecting a YoY growth of 17%, while the international orders stood at ₹66,848 crore, contributing 49% to the total order inflow.  “The quarter’s order inflow spanned multiple geographies and a diverse set of sectors, including thermal power, hydrocarbons, renewable infrastructure, transmission & distribution and roads & runways,” the company said in a statement.

The Group’s consolidated order book as of December 31, 2025, stood at ₹733,161 crore, reflecting a 30% growth over December 2024.

Nine-month update

For the nine months ended December 31, 2025, the infrastructure firm recorded consolidated order inflows of ₹345,818 crore, witnessing a YoY growth of 30%.

It reported consolidated revenues of ₹203,112 crore in the same period, reflecting a y-o-y growth of 12%. International revenues stood at ₹ 109,991 crore, contributing 54% of the firm’s total revenues.

Similarly, for the nine months ended December 31, 2025, the recurring PAT stood at ₹11,949 crore, registering a growth of 25% YoY.

Management commentary

Commenting on the results, S N Subrahmanyan, Chairman and Managing Director, said: “We have witnessed another landmark quarter for the Company as we posted our highest ever quarterly order inflow. For the first time, the quarterly order inflow in our Projects & Manufacturing (P&M) portfolio has exceeded the ₹ 1 lakh crore mark—a clear reflection of our capabilities and the inherent strength of our business model.”

Subrahmanyan said the company’s order book has crossed the ₹7 lakh crore mark, reflecting its continued focus on sustainable execution, the use of cutting-edge technology, and the seamless integration of ESG principles into its business framework.

He added that the company remains optimistic about the continuation of pro-growth momentum in the ecosystem, driven by sustained capital expenditure. Subrahmanyan also pointed to expectations of additional policy thrust to strengthen domestic manufacturing and fiscal incentives to support the expansion of India’s digital and AI ecosystem, while reaffirming the company’s commitment to technology-led growth and long-term value creation for stakeholders.

On Wednesday, L&T shares settled at ₹3,796.90 apiece on the National Stock Exchange, rising 0.24%. The earnings, however, came after the market hours.