L&T shares surge around 4 per cent after June quarter earnings
Jul 27, 2022
Mumbai (Maharashtra) [India], July 27 : Share price of engineering firm Larsen & Toubro (L&T) surged by around 4 per cent on Wednesday a day after the company announced 45 per cent surge in its consolidated net profit for the first quarter of the current financial year.
L&T share was trading 2.72 per cent higher at Rs 1798.10 at the BSE at 12.45 pm.
The scrip started the day in the positive at Rs 1758 and surged to a high of Rs 1819 in the intra-day, which is around 4 per cent higher when compared with its previous day's close at Rs 1750.45.
L&T was the biggest Sensex gainer. The 30 stock S&P BSE Sensex was trading at 55,574.05 points at 12.03 pm, which is 305.56 points or 0.55 per cent higher when compared with its previous day's close at 55,268.49 points.
On Tuesday, Larsen & Toubro (L&T) reported a consolidated net profit of Rs 1,702 crore for the quarter ended June 30, 2022 as compared to Rs 1,174 crore recorded in the corresponding period of the last year, registering a year-on-year growth of 45 per cent.
The company registered consolidated revenues of Rs 35,853 crore for the quarter ended June 30, 2022 recording a y-o-y growth of 22 per cent with strong execution witnessed in the Infrastructure Segment and riding on the sustaining growth momentum in the IT&TS portfolio.
International revenues during the quarter under review stood at Rs 13,235 crore, which is 37 per cent of the total revenue.
The Company secured orders worth Rs 41,805 crore at the group level during the quarter ended June 30, 2022, registering a growth of 57 per cent over the corresponding quarter of the previous year.
During the quarter, orders were received across diverse segments like Public Spaces, Metros, Water Management & Waste Water, Minerals and Metal, Factories, Data Centers, Defence, Power Transmission and Distribution and Hydrocarbon Offshore sectors, Larsen & Toubro said in a statement after the company's board of directors approved the Q1 results.
International orders during the first quarter of the current financial year stood at Rs 17,842 crore, which is 43 per cent of the total order inflow.
The consolidated order book of the group is at a record Rs 363,448 crore as on June 30, 2022, with international orders having a share of 28 per cent.
