Larsen & Toubro (L&T) reported a net profit of INR 1,360.5 cr in the first quarter of the year that ended on June 30. The company saw an increase of 20.46% in the company's net profit when compared to the corresponding period last year. In a regulatory filing after-market hour, the company mentioned that its revenue from continuing operations was Rs.29,635.95 cr in the April-June period, marking a rise of 9.74% on a year-on-year basis.
The company’s electrical and automation business sale by Schneider Electric is expected to be completed within the next year.
“The business has hence been classified as 'discontinued operations',” an official from L&T said.
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The strong public sector and private sector orders enabled growth for the quarter even though the orders from the central and state governments were affected during the general elections.
The company recorded an 11% growth after it won INR 38,700 cr at the group level during the first quarter-end.
The major contributors of the order inflow during the quarter were order wins in the infrastructure and power segments. The strong public sector and private sector orders enabled growth for the quarter even though the orders from the central and state governments were affected during the general elections.
The consolidated order book of the group stood at INR 2,94,014 cr as of June 30, 2019, with the international order book constituting 21% to the total order book, the company said.
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.jpg "Larsen & Toubro Earns Profit of INR 1,361 Cr in Q1")
