On the BSE, Larsen & Toubro shares (L&T) were dejected 2% at Rs 2,075 in Tuesday’s intra-day trade on profit reservation after the engineering company stated a combined net profit of Rs 2,553 crore for the Q3FY23, up 24.2% from a year ago.

The company’s income from courses in the quarter under review was up 17.3% YoY to Rs 46,390 crore, assisted by strong order arrivals and enhanced project execution. Incomes before interest, depreciation, tax and amortisation (Ebitda) margins also contracted 51bps from the same period last year to 10.9% in Q3FY23.
Adjusted standalone revenue was up 8.3% YoY at Rs 27,785.4 crore. Net profit continued flat at Rs 1,825.40 crore. EBITDA was up 10.3% YoY to Rs 2316.9 crore. Margins endured flat on a YoY basis at 8.3%.
At the group level, L&T established orders worth Rs 60,710 crore, recording a growth of 21% over the year-ago period.
International orders at Rs 15,294 crore encompassed 25% of the entire order inflow, the company said. For the first nine months of FY23, L&T’s order inflows reared at Rs 1.54 trillion, which was a growth of 30% versus the consistent period last year. Of this, international orders instituted 33%, or Rs 50,478 crore in value.
With today’s decay, the stock price of L&T has declined 6% to 2.8% fall in the S&P BSE Sensex. However, it was up 3%, as against a 2.4% decline in the standard index. Further, in the past six months, it hiked 15%, as compared 3% rise in the Sensex. The stock hit a record high of Rs 2,297 on 20th January 2023.

L&T resulted in a stout order book of Rs 3.72 trillion, giving better revenue visibility in upcoming years, said analysts at ICICI Securities.
L&T has aimed revenues and order inflow CAGR of 15% and 14% over FY21-26 with a consolidated RoE of 18%. L&T will create its first enhanced portfolios like green EPC, electrolysers manufacturers, battery & cell manufacturing, and data centres platforms like Sufin & Edutech in five years.