L&T Q3 Profit Jumps 53%; Gross Revenue up 9.4%; Bags Solar Orders

The company has secured a major order from the domestic market for EPC construction of 250MW (AC) Solar Plant in Rewa district of Madhya Pradesh.

India’s largest construction and engineering firm, Larsen & Toubro Ltd, has reported impressive growth of 53 per cent in its consolidated net profit after taxes (PAT) at Rs 1,490 crore for the third quarter ended December 31, 2017, mainly on account of higher order inflows.

“The consolidated net profit of the engineering and infrastructure major stood at Rs 972 crore during the same period a year ago,” said Larsen & Toubro Ltd in a filing to the Bombay Stock Exchange.

It’s gross revenue increased by 9.4 per cent at Rs 28,747 crore during Q3 2017-18, as compared to Rs 26,287 crore during the same period last year.

Total expenses of the company during the October-December quarter rose to Rs 26,420 crore, from Rs 24,883 crore in Q3 FY 2018.

International revenues during the quarter stood at Rs 10,110 crore constituted 35 per cent of the total revenue, the company said in a statement.

“The company won fresh orders worth Rs 48,130 crore at the group level during the quarter ended December 31, 2017, registering a growth of 38 per cent, with strong ordering activity witnessed during the quarter. International orders at Rs 8,835 crore constituted 18 per cent of the total order inflow,” it added.

As per the company’s December 28, 2017 press release, the company has secured a major order from the domestic market for EPC construction of 250MW (AC) Solar Plant in Rewa district of Madhya Pradesh.

Recently, the power transmission & distribution business of L&T Construction, an arm of Larsen & Toubro, has bagged major solar EPC orders worth Rs 590 crore.

The NLC India Ltd has awarded an order for setting up of a 100 MW (AC) grid interactive solar photovoltaic power project in Tamil Nadu. This is one of the largest solar orders the business has secured from a Navratna enterprise of the Government of India, the company said.

The business has secured another order from SB Energy One Private Ltd., of SoftBank Group, for building a 100MW (AC) solar photovoltaic power plant at Bhadla Phase III Solar Park in Rajasthan.