HomeBusinessCompaniesL&T Q3 Results: Net Profit Jumps 15% To Rs 2,947 Cr

L&T Q3 Results: Net Profit Jumps 15% To Rs 2,947 Cr

Engineering giant Larsen and Toubro (L&T) reported a Q3 net profit of Rs 2,947 crore ($355 million), marking a 15% increase. However, the figures fell short of analysts’ expectations of Rs 3,304 crore. Higher costs offset sustained infrastructure demand for L&T, whose results are closely watched as a key indicator of capital expenditure trends in the Indian economy. In Q3, total expenses surged over 19% to Rs 51,194 crore, overshadowing the 18.8% rise in revenue from operations, the slowest top-line growth in the past two quarters.

The upbeat capital expenditure environment, fueled by the government’s spending push ahead of the upcoming general polls, had initially benefited Indian construction firms. However, analysts noted a moderation in capital expenditure enthusiasm as elections approach, leading to slowed tendering activity and fewer project announcements. L&T’s shares closed at Rs 3,633.40 apiece, down 2.02%, ahead of the Q3 results.

In contrast, state-owned power major NTPC recorded a Q3 net profit growth of over 7% to Rs 5,208.87 crore, supported by energy sales through trading. This marked an improvement from Rs 4,854.36 crore in the year-ago period. Despite profit growth, NTPC’s total income declined to Rs 43,574.65 crore from Rs 44,989.21 crore a year ago. Expenses increased to Rs 38,782.22 crore from Rs 37,007.51 crore in the corresponding period last year. The Q3 results reflect the challenges faced by the power sector amid changing market dynamics.

“Revenue from operations for the quarter and nine months ended 31 December 2023 include Rs 2,117.12 crore and Rs 7,012.90 crore, respectively (Previous quarter and nine months Rs 1,984.92 crore and Rs 6,039.14 crore, respectively) on account of sale of energy through trading,” the filing said.

News Desk
News Deskhttps://businessheadline.in
Business Headline aims at providing you with all the insights around the business world along with creative write-ups and reviews by renowned global personalities. Additionally the Business Blog will help startups and enterprises to develop their business.
- Advertisment -

CRICKET SCORE LIVE

- Advertisment -

Most Popular

error: