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Larsen and Toubro (L&T) reported a consolidated net profit of Rs 2,593.41 crores, rising 28.36 per cent year-on-year rise in for the quarter ended September 2018. The company’s reported a profit of Rs 2,020.30 crores in the corresponding quarter of the previous fiscal.
According to the company’s statement, the total revenue rose to Rs 32,081 crores, surging 21 per cent during the quarter under discussion. L&T Infrastructure segment secured orders worth Rs 23,406 crores during the September-end quarter, posting a 69 per cent rise whereas the power segment recorded revenue of Rs 1,059 crores, posting 36% decline.
R Shankar Raman, L&T chief financial officer and whole-time director said: “The company is hopeful of to get majority orders from the public sector, however, is cautious on private sector investments in view of increased economic volatility.”
Raman added, “We’re likely to meet our forecast as the government spending on infrastructure will increase ahead of the general elections. We are confident internally and don’t see any reason to doubt our ability to meet the guidance.”
He said the firm’s large orders were mostly booked in the first half of FY19, and during the September quarter, its order inflow was up by 46 per cent at Rs 41,921 crore.
