Larsen & Toubro (L&T) achieved consolidated revenues of ₹ 55,120 crore for the quarter ended June 30, 2024 registering a y-o-y growth of 15% with robust execution witnessed in the projects and manufacturing (P&M) portfolio on the back of a large order book. International revenues during the quarter at ₹26,248 crore constituted 48% of the total revenues.
As per the press release, the company received orders across multiple segments like offshore vertical of hydrocarbon business, renewables, transmission and distribution, roads, nuclear power, hydel and tunnel, ferrous metals, health, and the precision engineering sectors. International orders at ₹32,598 crore during the quarter comprised 46% of the total order inflow.
S.N. Subrahmanyan, Chairman and Managing Director said, “We have achieved steady growth across all financial parameters in Q1 FY 2024-25, despite the geopolitical situation across the globe. Amidst various transformational shifts happening worldwide, we are well-positioned to grasp these opportunities with our expertise in our traditional P&M business and technology driven new-age businesses. The Financial Services portfolio has achieved a remarkable transformation into Retail Finance with improved profitability. To enhance our presence in the semiconductor sector, we have recently entered into a share purchase agreement with SiliConch Systems, a Bengaluru based chip design company. As a testament to our exceptional credit quality and robust financial health, two coveted global credit rating agencies – S&P and Fitch – have assigned ‘BBB+’ rating to the company. This is two notches above the sovereign rating. Further, MSCI ESG Research has upgraded our ESG rating to ‘BBB’ for improved performance on Environment, Social and Governance parameters”.
