Larsen & Toubro’s consolidated net profit for the June quarter rose 46 per cent on year to Rs 2,493 crore, while revenue rose 34 per cent to Rs 47,882 crore, aided by the execution of a healthy opening order book in its projects and manufacturing portfolio. Both profit and revenue were above analyst estimates.
The company received orders worth Rs 65,520 crore at the group level during the quarter ended June 30, 2023, registering an annual growth of 57 per cent. During the quarter, orders were received across diverse segments including rail, renewables, rural water supply, transmission and distribution.
International orders at Rs 27,646 crore during the quarter comprised 42 per cent of the total order inflow.
The consolidated order book of the group was at Rs 4.1 lakh crore at the end of the quarter, with international orders accounting for a 29 per cent share.
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The board approved buying back 3.3 crore shares through the tender offer route for a maximum price of Rs 3,000 per share and for a maximum consideration of Rs 10,000 crore.
The board also approved a special dividend of Rs 6 per share.