MUMBAI: Engineering and construction major Larsen & Toubro (L&T) has reported a street-beating growth in consolidated net profit at Rs 3,617 crore in the June quarter, up a full 30% on-year, as its revenue improved 15.5% to Rs 63,679 crore.
The company said Tuesday that the order inflow for the quarter stood at Rs 94,453 crore, registering a growth of 33% on-year driven by strong momentum from the Middle East. International orders stood at Rs 48,675 crore, up from Rs 32,598 crore. International orders constituted 52% of total orders.
The consolidated order book stood at Rs 6,12,761 crore, with international orders being 46% of the total, L&T said, adding the order book of Rs 4,75,809 crore represents a growth of 28%.
L&T expects the ongoing economic growth momentum to continue in the medium term facilitated by both public and private capital investment.
However, on the international front, L&T expects global economic activity to remain subdued with an uneven momentum. Regional growth patterns have become more fragmented, as geopolitical and policy uncertainties reshape the economic outlook, it said.
Within the international market, L&T expects the countries that are part of the Gulf Cooperation Council, led by Saudi Arabia, to sustain the investment momentum in both the physical and digital infrastructure of the region.
The company has, however, warned that despite its optimism around the GCC, any further escalation of conflicts in the region may increase the uncertainty for financial markets, energy prices, investments, and global trade flows.
"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," chairman and managing director SN Subrahmanyan said.
The management has projected a revenue growth of 15% this fiscal while maintaining core operating margins at 8.3%.