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L&T Q2FY22 Result: Consolidated adjusted profit rises to Rs 1,723 cr; orders increase by 50 pc Larsen & Tubro Q2FY22 Result
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L&T Q2FY22 Result: Consolidated adjusted profit rises to Rs 1,723 cr; orders increase by 50 pc

India Blooms News Service | @indiablooms | 27 Oct 2021, 11:20 pm

Mumbai/IBNS: Engineering and infrastructure giant Larsen & Toubro has reported a 56 percent year-on-year growth in consolidated adjusted profit at Rs 1,723 crore in the September 2021 quarter.

The adjusted profit excluded exceptional items and discontinued operations.

In the same quarter in FY21, the profit was bolstered by a one-time gain due to the sale of electrical and automation business to Schneider Electric, France.

The profit for the quarter at Rs 1,819.45 crore declined by 67 percent compared to Rs 5,520.27 crore in Q2FY21.

"The reported profit included Rs 144 crore gain on divestment of stake in hydel power plant in Uttarakhand (a part of the development projects segment) and tax expenses of Rs 47 crore arising on the transfer of the NxT Digital Business from the Parent to Mindtree," the company said.

The company's consolidated revenue was at Rs 34,773 crore, registering a 12 percent YoY growth. The increase is attributed to project execution momentum with the easing of regional lockdowns on progressive vaccination coverage and industry-leading growth in the IT&TS portfolio.

L&T bagged orders worth Rs 42,140 crore during the quarter ended September 30, 2021, registering a robust growth of 50 percent over the corresponding period of the previous year

The consolidated order book of the group was at Rs 330,541 crore as on September 30, 2021, at near-record levels, with international orders having a share of 23 percent.