L&T net down to Rs 911 crore in Q1

Chennai, July 26 Engineering major Larsen & Toubro Ltd (L&T) on Tuesday said it closed the first quarter of FY23 with a lower net as compared to the corresponding period of the previous year.

The company said it had posted a revenue of Rs 20,211.69 crore (Q1FY22 Rs 16,607.86 crore) and a profit after tax of Rs 911.22 crore (Q1FY22 Rs 1,009.48 crore) for the quarter under review.

Barring the energy projects segment, the company's other segments - infrastructure, hi-tech manufacturing and others - grew their topline.

On a consolidated basis, the L&T group revenue grew by 22 per cent during the first quarter of FY23 to Rs 35,853 crore and the net profit by 45 per cent to Rs 1,702 crore over the previous year's corresponding period.

The company secured orders worth Rs 41,805 crore at the group level during the quarter ended June 30, 2022, registering a growth of 57 per cent over corresponding quarter of the previous year.