Larsen & Toubro Q2 Results FY2023, Net Profit at Rs. 2229 crores

Larsen & Toubro Q2 Results FY2023

Corporate Action
by Shreya Anaokar Last Updated: 2022-11-01T14:52:08+05:30

On 31st October 2022, Larsen & Toubro announced its second quarter results for the period ending 30th September 2022. 

Q2FY23 Performance updates:

- Larsen & Toubro achieved Consolidated Revenues of Rs. 42,763 crores recording a y-o-y growth of 23% with execution tailwinds in the Infrastructure Projects segment and sustained growth momentum in the IT&TS portfolio.
- The Company posted a Consolidated Profit After Tax (PAT) of Rs. 2,229 crore, registering a robust growth of 23% YoY. 
- The Company recorded orders worth Rs. 51,914 crore at the group level, registering a growth of 23% YoY. 
- International orders at Rs. 17,341 crore comprised 33% of the total order inflow.
- The consolidated order book of the group was at Rs. 372,381 crores with international orders having a share of 28%.

Business Highlights:

- The Infrastructure Projects segment secured order inflows of Rs. 25,058 crores, registering a substantial growth of more than 100% YoY. International orders at Rs. 6,700 crores constituted 27% of the total order inflow of the segment during the quarter. The segment order book stood at Rs. 268,752 crore with the share of international orders at 24%. 
- The Energy Projects segment secured orders valued at Rs. 8,441 crores, registering a decline of 42% YoY, since the previous year had the benefit of receipt of a mega international order in the Hydrocarbon business. International order inflow constituted 3% of the total order inflow of the segment during the quarter. The segment order book was at Rs. 68,971 crores with the international order book constituting 54%.
- Hi-Tech Manufacturing Segment secured orders valued at Rs. 1,768 crores registering substantial growth of 62% YoY with a healthy flow of orders in the Heavy Engineering business. Export orders constituted 48% of the total order inflow of the segment during the quarter. The order book of the segment was at Rs. 19,659 crores with the share of export orders at 14%. 
- IT & Technology Services (IT&TS) Segment recorded customer revenues of Rs. 10,151 registering a YoY growth of 29%, reflecting continued growth impetus in the IT&TS sector. International billing contributed 93% of the total customer revenues of the segment for the quarter ended September 30, 2022. The aggregate revenue of the three listed subsidiaries in this segment at $ 1,270 Million registered a sequential growth of 4%.
- Financial Services Segment reflects the performance of L&T Finance Holdings, a listed subsidiary. The segment recorded income from operations at Rs. 3,152 crores registering a y-o-y growth of 6%, mainly attributed to higher disbursement in the retail business, in line with its strategy of retailisation of the loan book.
- Development Projects Segment recorded customer revenues of Rs. 1,344 crores registering a growth of 15%YoY, driven by a higher PLF in the Nabha Power plant and an increase in ridership in Hyderabad Metro
- “Others” segment comprises Realty, Construction & Mining Machinery, Rubber Processing Machinery,  Industrial Valves, and Smart World and Communication businesses. Customer revenues at Rs. 1,704 crores registered a growth of 24% YoY with an increase in sales of Rubber Processing Machinery and improved execution of jobs in the Smart World and Communication business. Export sales constituted 7% of the total customer revenues of the segment during the quarter, majorly pertaining to the export of Industrial Valves and Rubber Processing Machinery. 
 

Larsen & Toubro share price went up by 0.21%.


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About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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