Home NewsStock Market News l&t share price: Larsen & Toubro jumps 4% following strong Q1 results

l&t share price: Larsen & Toubro jumps 4% following strong Q1 results

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l&t share price: Larsen & Toubro jumps 4% following strong Q1 results


Larsen & Toubro (L&T) shares saw a 4 per cent jump in Wednesday’s early trade as consolidated net profit rose to Rs 1,702.07 crore for the June quarter, a 45 per cent year-on-year (YoY) rise, compared with Rs 1,174.44 crore in the corresponding quarter last year.

Consolidated revenue jumped 22 per cent YoY for the quarter to Rs 35,853 crore due to strong execution showcased in the infrastructure segment and sustained growth momentum in the IT&TS portfolio.

R. Shankar Raman, Group Chief Financial Officer, in a media earnings conference call said, “Despite this being a seasonal quarter, the company has performed pretty strongly. The company has performed well on almost all the parameters be it in terms of orders or sales or profitability.”

Following the update, the scrip touched its day’s high at Rs 1819. At 12:00 pm, it hovered Rs 1805, around 3 per cent above the previous close of Rs 1750.45.

International revenues were at Rs 13,235, constituting 37 per cent of the total revenue for the latest quarter.

The company said it 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.

The operating margin for the quarter came in at 11.04 per cent, compared with 12.34 per cent in the March quarter and 10.81 per cent in the year-ago quarter.

L&T said it secured orders worth Rs 41,805 crore at the group level during the quarter, up 57 per cent YoY.

Shankar Raman added that the company maintains its revenue and order inflow guidance at 12-15 per cent and sees orders fructifying in the minerals and metals space, the data centre segment and the e-commerce delivery infrastructure and warehouses segment, going forward.

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