L&T may exceed FY23 revenue, order inflow guidance if momentum continues: CFO

Larsen & Toubro Ltd may exceed its revenue and order inflow targets for 2022-23 if the current order momentum continues, Chief Financial Officer R Shankar told reporters after the company released its December quarter result (Q3FY23) on January 30.

The engineering major had earlier guided it will close FY23 revenue, and order inflow at a growth of 12-15 percent. On January 30, the company announced it bagged orders worth Rs 60,710 crore in the third quarter of FY23, up 21 percent year-on-year (YoY). With these orders, the company’s total order inflow in the first three quarters of the fiscal stood at Rs 154,429 crore, registering a growth of 30 percent on-year.

“We are well positioned to meet the guidance and possibly can exceed if the current tendering and ordering momentum of the first three quarters continues in the fourth quarter. However, given the fact that in private business, slippage between quarters is normal, we'll have to wait and watch. But we have a good feeling that we are well placed so far,” Raman said in a response to a question by Moneycontrol on if the company will raise its annual guidance.

L&T reported a consolidated net profit of Rs 2,553 crore in Q3FY23, up 24 percent from the year-ago period, as order execution picked up in the infrastructure segment and was boosted by growth in the technology and services business. Revenue from operations soared 17 percent on year to Rs 46,390 crore. The company beat street estimates of Rs 44,972.85 crore revenue and Rs 2,535 crore net profit, according to a Moneycontrol poll.