Larsen & Toubro reported Rs 580 crore in net profits, a 26 per cent rise from the Rs 460 crore last year, for the July-September quarter amidst a rise in order inflows.
Net sales of were at Rs 7866 crore, up 2.33 per cent from Rs 7682 crore last year. The company announced that its order book has reached Rs 81,623 crore at the end of September.
"We are extremely optimistic in terms of business opportunities, and hopefully, will see much better growth in the second half,” said Y M Deosthalee, chief financial officer, L&T.
New orders are expected to increase more than 30 per cent for the year to March, up from its earlier forecast of 25 per cent, but revenue growth may slow to 15 percent from the earlier estimate of 15-20 percent.
L&T shares closed down 3.9 per cent at Rs 1,608.50 on BSE.