Larsen and Toubro: Revival still a work in progress

The construction company posted a consolidated net profit of Rs5,520 crore, more than double the Rs2,527 crore it posted a year ago.
Larsen and Toubro is one of the largest construction and infrastructure development companies in the country.(Mint File Photo)
Larsen and Toubro is one of the largest construction and infrastructure development companies in the country.(Mint File Photo)
Published on Oct 29, 2020 07:57 AM IST
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Mint, Mumbai | ByHT Correspondent

Larsen and Toubro Ltd (L&T), the country’s largest infrastructure and construction conglomerate, said it expects the pandemic to cast a long shadow on its business.

After reporting a 12% drop in revenue to Rs31,000 crore in the fiscal second quarter, L&T shied away from giving a definite outlook for the year. Its senior management said it is still playing catch-up with last year’s numbers.

“The second quarter has been a road to revival from the depths of Q1,” R. Shankar Raman, whole-time director and chief financial officer of L&T, said.

The construction company posted a consolidated net profit of Rs5,520 crore, more than double the Rs2,527 crore it posted a year ago.

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Saturday, November 27, 2021