The revenue from operations came in at Rs 39,562.92 crore, up 11.14 per cent against Rs 35,596.42 crore in the corresponding quarter last year. This compares with the analyst estimate of Rs 39,732 crore.
The Company bagged orders worth Rs 50,359 crore during the quarter, registering a decline of 31 per cent for the corresponding period in the previous year. The decline is coming on a much larger base due to high-speed rail corridor awarded last year.
The company said international orders were at Rs 20,521 crore during the quarter, comprising 41 per cent of the total order inflows, with receipt of large value international orders in Hydrocarbon Offshore. The consolidated order book of the group was at record levels of Rs 3,40,365 crore, with international orders having a share of 24 per cent.
“In the backdrop of the current economic environment, the company continues its planned path of winning targeted orders, focus on profitable execution of its large order book, leverage the strong growth momentum in its IT & TS portfolio and along with many other value-enhancing measures, is committed to creating sustainable long term returns to its stakeholders,” the company said.
L&T maintains a “cautiously optimistic” view of higher capex spends in the near term as it believes ‘Atmanirbhar Bharat’ initiative is gathering full momentum.
