L&T’s order inflow grew by 57% year-on-year to Rs 41,800 crore in the June quarter, higher than the analysts’ estimate of Rs 38,000-39,000 crore. The order flow in core engineering and construction (E&C) business excluding services business expanded by 88% to Rs 28,288 crore helped by a large order win in hydrocarbon segment and other big wins in the transmission and distribution, and the defence sector.
ET Intelligence group: Larsen and Toubro, the country’s largest engineering conglomerate,reported a strong order flow amid the industry’s improving award-to-tender ratio for the June quarter. This and the likelihood of better operating profitability given the softening commodity prices is expected to prompt analysts to upgrade earnings expectations for FY23 by 3-4%.
L&T’s order inflow grew by 57% year-on-year to Rs 41,800 crore in the June
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