L&T share price up over 1% on major order win ahead of Q2 results; check details

The stock rose 1.2% to ₹3,423.3 apiece on the NSE. The company's market capitalisation stands at ₹4,69,712 crore.

On the BSE, the scrip is up 1.2% to ₹3,421.8 a unit.

L&T wins new orders

L&T's power transmission and distribution (PT&D) vertical has secured new orders in the ₹5,000 crore to ₹10,000 crore range for expanding the electricity grids in the Middle East and Africa.

"One of the orders that the business vertical has won, is in consortium with a leading original equipment manufacturer to build the new National System Control Centre for Kenya. The transmission hub will manage the power flow in the country by integrating diverse generation sources and by despatching power based on merit order," the company said in an exchange filing.

In the Middle East, L&T has won new orders for the turnkey construction of high-voltage transmission lines in Saudi Arabia. It has also received orders for Additional Gas-Insulated Substations in an ongoing power system expansion project in Qatar.

This development comes ahead of L&T's Q2 results announcement on Wednesday, which will likely be released post-market hours.

According to experts, the company may post a marginal rise in net profit for quarter ended September 2024 in range of ₹2,900 crore to ₹3,200 crore. In the year-ago period, the standalone net profit stood at ₹2,710 crore.

Revenue is likely to rise around 13%, backed by a strong order book.

Operating profit or EBITDA (earnings before interest tax depreciation and amortisation) may decline by 13% to ₹6,141 in the latest September quarter. Operating margins are forecasted to drop by 310 basis points (bps) to 10.7%.