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Sun June 20 2021

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Orders up 25% at L&T

24 May 13 Indian contractor Larsen & Toubro has reported a 25% surge in orders and a 14.4% revenue increase for the year to 31 March.

The company won fresh orders worth 88035 crore rupees (£10.57bn) during the year financial year. Orders for the final quarter were up 32% on the same period in the previous year.

New international orders accounted 17% of the year’s total, with major wins in the building and factories, power transmission and distribution, transportation infrastructure and power sectors.

Profit after tax for the year was 4911 crore (£584m), an increase of 10.2% over the corresponding period in the previous year.

The company said that challenges in Indian economy are still persisting in the form of infrastructure bottlenecks, resource availability, high fiscal and current account deficits.  

It added that it was optimistic about sustaining its growth momentum on the back of the healthy order book and strong balance sheet.

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MPU

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