Engineering and construction major Larsen and Toubro (L&T) on Monday announced a 16% year-on-year rise in its net profit at Rs 864 crore compared to Rs 746 crore in the corresponding quarter last year, driven by healthy order inflow.
Despite weak investment sentiment, the company’s order inflow grew by 21% to Rs 19,594 during April-June, and the company expects sustained revenue growth in the medium term.
L&T’s net revenue went up by 26% during the quarter to Rs 11,956 crore from Rs 9,482 crore in the year-ago period.
“Some of the sectors in which we operate have seen some momentum,” said R Shankar Raman, chief financial officer, L&T. “Also there is some spillover of orders from Jan-March that we realised in this quarter.”