L&T reports 13% jump in Q2 profit

L&T reports 13% jump in Q2 profit

Agency News

Mumbai, 23 Oct 2019: The construction and engineering firm Larsen & Toubro (L&T) reported a 13 percent year-on-year (YoY) jump in consolidated net profit at Rs 2,527 crore for the July-September quarter of the financial year 2020 on October 23.

Revenue jumped 15 percent YoY, coming at Rs 35,328.4 crore in Q2FY20 against Rs 30,678.13 crore in Q2FY19. The company reported EBITDA for the second quarter at Rs 4,021.4 crore, while EBITDA margin came at 11.4 percent.

The company said it successfully won new orders worth 48,292 crore at the group level during the quarter ended September 30, 2019, registering a YoY growth of 20 percent. International orders during the quarter were of 16,675 crore which was 35 percent of the total order inflow.

With the surge in order intake, the company crossed the 3 lakh crore order book milestone with the consolidated order book at 3,03,222 crore as at September 30, 2019 and with international orders constituting 22 percent of the total order book.

Overall, the order inflow for the half-year stood at 86,992 crore, growing at 16 percent over the corresponding period of the previous year.