L&T Q2 profit seen up 10% at Rs 1,230 cr; guidance, order inflow, asset monetisation plans key

IRB Infrastructure Developers  | In 2020 so far, the share price has moved up 76 percent to Rs 131.20. It's trailing twelve months (TTM) P/E was 6.40 multiple while 5-year average P/E was 8.30 multiple.

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26 Aug, 2025 12:21

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Engineering and infrastructure major Larsen & Toubro (L&T) is expected to report a 10 percent growth year-on-year in profit for July-September quarter.

According to average of estimates of analysts polled by CNBC-TV18, profit is estimated at Rs 1,230 crore for the quarter against Rs 1,124 crore in year-ago. The company had an exceptional income in Q2FY17.

Revenue during the quarter is seen rising 7 percent to Rs 26,807 crore, compared with Rs 25,022 crore in same quarter last fiscal.

Seasonally it is a weak quarter of the company given weak execution due to monsoon.

Infrastructure segment performed very well in Q1; that trend is likely to continue in Q2 also. The segment margin will be closely watched.

Hydrocarbon and heavy engineering may do well due to recent orders, analysts feel.

EBITDA (earnings before interest, tax, depreciation and amortisation) is expected to increase 10 percent year-on-year to Rs 2,533 crore and margin may expand 20 basis points to 9.4 percent in September quarter.

Margin improvement may be driven by recent favourable Supreme Court verdict in the Nabha Power case which may lead to one off provision reversal of Rs 250 crore in Q2FY18, analysts said.

Key monitorables during the quarter would be guidance revision if any, order inflow, working capital and asset monetisation plans.

L&T announced order intake of Rs 11,700 crore for July-September quarter, which is lower by 38 percent compared with Rs 18,900 crore reported in Q2FY17.

After Q1 earnings, the company expected full revenue growth at about 12 percent (+/- 1 percent) and order inflow growth at 12-14 percent. Margin is expected to improve by 0.5 percent in coming quarters, it had said.

The stock rallied 35 percent in 2017.