L&T share price gains over 5% after robust Q2 performance; check details

The stock rose as much as 5.6% to ₹3,600 apiece on the NSE in the early trade. At 9:42 am, the scrip was trading 5.4% higher at ₹3,594 a unit.

The company's market capitalisation stands at ₹4,94,173.17 crore.

L&T Q2 net profit risies 5%

The income grew 21.1% to ₹62,655.85 crore for the quarter under review, compared to ₹52,157.02 crore in the corresponding period last fiscal.

"We have delivered yet another quarter of strong financial performance despite the continuing global macroeconomic volatility," SN Subrahmanyan, Chairman and Managing Director of L&T, said, adding, "The projects and manufacturing businesses continue to perform well. We have a record order book of ₹5 lakh crore-plus that is a testimony of our proven competence in the domains of engineering, construction, manufacturing and project management."

At the group level, L&T received orders worth ₹80,045 crore in the latest July-September quarter, a 13% quarter-on-quarter growth and 10% year-on-year (YoY) degrowth. International orders at ₹50,083 crore, constituted 63% of the total order inflow.

In the September quarter, multi-geography orders were obtained across various segments such as renewables, roads and runways, urban transit, transmission and distribution, hydel and tunnel, nuclear power, factories, precision engineering, minerals and metals and the offshore vertical of the hydrocarbon business, the company said in an exchange filing.

L&T President and CFO R Shankar Raman said the order execution has been robust and emphasised that the environment for order inflow remains positive.

L&T is a $27 billion Indian multinational engaged in EPC projects, high-tech manufacturing and services, functioning across multiple geographies.