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Construction & Engineering company Larsen & Toubro announced Q3FY24 & 9MFY24 results:
- Consolidated revenues for Q3FY24 reached Rs 55,128 crore, marking a substantial YoY growth of 19%.
- International revenues during the quarter amounted to Rs 24,300 crore, constituting 44% of the total revenue.
- Consolidated PAT for Q3FY24 stood at Rs 2,947 crore, reflecting a notable YoY growth of 15%.
- For 9MFY24, consolidated revenues reached Rs 1,54,034 crore, showing a substantial YoY growth of 23%.
- Consolidated PAT for 9MFY24 registered an impressive growth of 34% on a YoY basis, reaching Rs 8,663 crore.
- The company secured orders worth Rs 75,990 crore during Q3FY24, demonstrating a robust YoY growth of 25%.
- Orders were received across various business segments, including the Offshore vertical of Hydrocarbon, Solar EPC & Power Transmission, Water Utilities, Buildings & Factories, and Minerals & Metals sectors.
- International orders constituted a significant portion, amounting to Rs 50,562 crore, comprising 67% of the total order inflow during Q3FY24.
- Order inflow for 9MFY24 reached Rs 2,30,662 crore, reflecting an impressive growth of 49% over 9MFY23.
- International orders during 9MFY24 constituted a substantial portion, totaling Rs 1,37,894 crore, making up 60% of the total order inflow.
- The consolidated order book stood at Rs 4,69,807 crore as of December 31, 2023, with international orders contributing 39% to the total order book.
Commenting on the results, S.N. Subrahmanyan, Chairman and Managing Director said: “We have registered yet another quarter of strong performance, despite the headwinds from a volatile global environment and consequent supply chain constraints. Our nine-month order inflow has crossed the FY’23 level. This is a testament to our wide capability spectrum, diversified presence, financial strength, and most importantly the faith reposed in us by our customers.
During the quarter ended December 2023, we made a foray into fabless semiconductor chip design. Our bold strides in new-age sectors, including Digital Platforms, Data Centres, and Green Energy will pivot us into a technology–led conglomerate.
Further, we are committed to promoting sustainability by reducing fossil fuel dependence/exposure, tapping renewables opportunities, using recyclable materials, increasing wastewater recycling, integrating ESG into business initiatives, and collaborating with vendors to build a green supply chain.
We are currently witnessing improved Capex spending in both our primary geographies of India and the Middle East. Despite continued global macroeconomic and geopolitical volatility, we remain positive about the investment spending continuing in the medium term.”
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