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Construction & Engineering company Larsen & Toubro announced Q1FY25 results:
- The company observed a year-over-year (YoY) revenue increase of 15%, with consolidated revenues reaching Rs 55,120 crore for the quarter.
- Larsen & Toubro reported a noteworthy growth in net profits, achieving a Consolidated Profit After Tax (PAT) of Rs 2,786 crore, reflecting a 12% increase from the previous year.
- The quarter displayed a positive trend in new orders, with the company securing orders worth Rs 70,936 crore, delivering an 8% YoY growth.
- Significant sector-wise progress was reported, such as strong execution in Infrastructure Projects leading to a 22% YoY revenue increase and an impressive order book growth of 19%.
- The international market contributed substantially to both order inflows and revenue, accounting for 46% and 48%, respectively, of the total in these areas.
- Segments such as Energy Projects and Hi-Tech Manufacturing saw a healthy uptick in order inflows and revenues, with respective YoY growths of 21% and >100% in order value.
Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said: “We have achieved steady growth across all financial parameters in Q1FY25, despite the geopolitical situation across the globe. Amidst various transformational shifts happening worldwide, we are well-positioned to grasp these opportunities with our expertise in our traditional P&M business and technology driven new-age businesses. The Financial Services portfolio has achieved a remarkable transformation into Retail Finance with improved profitability. To enhance our presence in the Semiconductor sector, we have recently entered into a share purchase agreement with SiliConch Systems, a Bengaluru based chip design company.
As a testament to our exceptional credit quality and robust financial health, two coveted global credit rating agencies – S&P and Fitch – have assigned ‘BBB ’ rating to the company. This is two notches above the sovereign rating. Further, MSCI ESG Research has upgraded our ESG rating to ‘BBB’ for improved performance on Environment, Social & Governance parameters.
The Union Budget released yesterday presented a detailed roadmap towards pursuit of a Viksit Bharat by 2047. With the expected policy continuation in India, the tailwinds in the Indian economic growth is likely to continue which will facilitate the Group to achieve its Lakshya 26 targets.”
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