L&T Quarter Profit Rises For the Ninth Straight Time

Larsen and Turbo Ltd reported a net profit of Rs 3,167 crore on Monday for the period January to March 2018. It is a 4.7 percent increase from Rs 3,025 crore profit the previous year. This is its ninth-straight quarter of rising profits for the company.

Its revenue rose by 11 percent to Rs 40,678 crore. The engineering and construction company's consolidated order book was at Rs 2,63,107 crore at the end of March 2018. 18 percent of the total orders were international. It won new orders during the quarter worth Rs 49,560 crore.

The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 23 percent to Rs 5,390 crore and operating margins widened to 13.2 percent from 11.9 percent.

The Share price of L&T closed 2.6 percent higher at Rs 1,376.45 a piece before the results were announced.

The company spoke about GST, IBC and other disruptions it faced in the financial year 2017-18. "With tax revenues estimated to show buoyancy through nominal GDP growth and widening of the tax base, budgetary allocations for infrastructure are scheduled to increase although the short term focus of the government could well be on development of rural India through social welfare schemes," it said.

It further said, "A revival of stressed business through the IBC is targeted at progressive resolution of the twin balance sheet problems and is the first step in facilitating increased credit lines to kick start private sector capex."