Larsen & Toubro (L&T) on Thursday posted a 10% year-on-year jump in consolidated net profit to ₹3,621 crore for the quarter ended March 2022, aided by large order wins from international customers.
Consolidated revenue of the Mumbai-based conglomerate rose 10% year-on-year to ₹52,851 crore in the fourth quarter, according to the company's exchange filing. International sales during the quarter at stood at ₹17,550 crore, constituting 33% of its total revenue.
The company clocked a consolidated revenue of ₹156,521 crore in the last fiscal, recording a year-over-year growth of 15% with strong execution in project business aided by continuing growth momentum in the IT and technology service portfolio. International revenues during the year stood at ₹55,783 crore, contributing 36% to its total revenue.
For the year ended March 31, 2022, the consolidated net profit - excluding exceptional items and discontinued operations – came in at ₹8,572 crore, logging a robust growth of 23% over the previous year.
The company secured orders worth ₹192,997 crore at the group level in FY22, registering a growth of 10% over previous year. During the year, major traction was seen in the international region, especially from the Middle East, where the company bagged large value orders, taking the share of international orders to 44% of the total order inflow, as compared to 27% in the previous year.
The company bagged orders worth ₹73,941 crore in the January-March period, registering a growth of 46% over the corresponding quarter of the previous year, with the infrastructure segment booking a mega order from the Middle East.
The consolidated order book of the group was at record levels, at ₹357,595 crore as on March 31, 2022, with international orders having a share of 27%.
The infrastructure segment secured order inflow of ₹93,515 crore, during the year ended March 31, 2022, registering a de-growth of 9% compared to previous year which had receipt of the large value Mumbai-Ahmedabad High-Speed Rail orders.
Last week, Fortune India reported that L&T Construction has bagged a large order from the National High-Speed Rail Corporation Limited (NHSRCL) for India's bullet train project. The railways business of L&T Construction has secured a contract from NHSRCL to construct a 116 kilometre route of high-speed track for the Mumbai-Ahmedabad bullet train project, according to an exchange filing. A project worth ₹2,500 crore to ₹5,000 crore is classified as a large project by L&T.
The hydrocarbon segment secured orders valued at ₹30,912 crore during FY22, registering a strong growth of 74% compared to previous year, aided by mega orders from Middle East, both in the offshore and onshore verticals. International order inflow constituted 79% of the total order inflow of the segment.
The defence engineering segment secured orders valued at ₹8,079 crore during FY22, representing substantial growth over the previous year with receipt of few large value domestic orders.
The continuing fluctuations in crude oil and other commodity prices owing to the current geopolitical uncertainties is leading to high input prices for industries and consumers, the conglomerate cautions. "The resultant supply chain disruptions could pose a threat to the growth plans of the country in the short-term."