Larsen & Toubro Q1 results: Here are the key highlights

Going forward, L&T expects India's economic growth momentum to continue in the medium term facilitated by both public and private capital investment.

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Larsen & Toubro posted a 12 percent surge in net profit in the first quarter of FY25, slightly below estimates, as the company's revenue from operations rose 15 percent in the April-June quarter.

Bouyed by a rise in its revenues, L&T's net profit climbed to Rs 2,786 crore in the three months ended June 30, from Rs Rs 2,493 crore a year earlier, slightly below estimates of Rs 2,876 crore. It's revenues rose 15 percent to Rs 55,120 crore above estimates of Rs 52,518 crore.

Here are the key highlights from the first quarter 2024-25 results of Larsen & Toubro:

Q1 FY25 numbers:

Consolidated net sales at Rs 55,119.82 crore recorded a rise of 15 percent versus Rs 47,882.37 crore in the corresponding period of the previous year.

Profit after tax was Rs 2,786 crore compared to Rs 2,493 crore in the corresponding period of the previous year, registering a rise of nearly 12 percent.

Order inflows

L&T's order inflow for the quarter ended June 30, 2024 stood at Rs 70,936 crore, registering a growth of eight percent over the corresponding quarter of the previous year when order inflows stood at Rs 65,520 crore.

International orders were at Rs 32,598 crore, constituting 46 percent of the total order book.

L&T's consolidated order book of the group stood at Rs 490,881 crore as on June 30, 2024, with international orders having a share of 38 percent, the company said.

The order book of Rs 4,75,809 crore represents a growth of 19 percent over Rs 4,12,648 crore as on June 30, 2023 and Rs 3,63,448 crore as on June 30, 2022.

L&T's net profit came in slightly below market expectations and its revenues surpassed the market's view.

According to a Moneycontrol poll, L&T's net profit is expected to jump 15 percent YoY to Rs 2,876 crore from Rs 2,493 crore in the corresponding quarter of FY24. Revenue was seen rising 9.6 percent YoY to Rs 52,518 crore, up from Rs 47,882 crore reported in the year-ago period.

Outlook:

Going forward, L&T expects India's economic growth momentum to continue in the medium term facilitated by both public and private capital investment.

"With the Union Elections behind and the likely political stability, the Government’s continued thrust on capex and business optimism augur well for investment activity," the company said in a stock exchange filing.

However, despite the strong growth momentum expected domestically, L&T expects a slowdown in the pace of infrastructure progress due to skilled labour shortage in certain sectors.

L&T added that it expects a rebound in international orders though the run-up to the US Presidential elections in November can exhibit economic volatility.

"With the change of Government in UK, and a hung parliament in France, the concern about the European economic recovery remains. China’s economic recovery remains debatable with rising trade tensions."