L&T order-book hits all-time high in Q3, net rises 3%

Engineering and construction giant Larsen & Toubro (L&T) on Monday posted a 3 per cent increase in consolidated net profit to Rs 2,648.33 crore for the quarter ended in December 2020.

The company had clocked a net profit after tax and share in profit/(loss) of joint ventures/associates from continuing operations before exceptional items of Rs 2,560.32 crore in the year-ago period, it said in a regulatory filing.

The increase in profit is largely attributed to higher profit from IT & ITES segment and sale of commercial property in Realty,. the company said in a statement. PAT also includes gain on divestment of Rs 209 crore from discontinued operations for the quarter ended December 31, 2020.

Its consolidated order book touched an all-time high of Rs 3.31 lakh crore after the company bagged the largest ever engineering, procurement, and construction order in the country.

Two marquee orders for high speed rail helped the order wins in the infrastructure segment swell to 455.74 bln rupees during the December quarter, up 80% on year.

Total consolidated income was almost flat at Rs 36,661.08 crore in the October-December quarter, against Rs 36,711.69 crore in the year-ago period.