L&T's Q1 consolidated net profit rise 20.5%

Mumbai, July 23 (IANS) Industrial conglomerate Larsen and Toubro (L&T) on Tuesday reported a rise of 20.5 per cent increase in its consolidated net profit for the quarter ended June 30 of the financial year 2019-20.

Accordingly, the consolidated net profit from continuing operations for the quarter under review rose to Rs 1,361 crore from Rs 1,129 crore for the corresponding period of the previous year.

"The overall PAT (Profit After Tax), including the PAT from discontinued operations for the quarter April to June, 2019 grew by 21.2 per cent to Rs 1,473 crore vis-à-vis Rs 1,215 crore for the corresponding quarter of the previous year," the company said in a statement.

The company's consolidated gross revenue of Rs 29,636 crore from continuing operations for the quarter ended June 30, achieving y-o-y growth of 10 per cent. The International revenue during the quarter stood at Rs 9,268 crore and constituted 31 per cent of the total revenue.

Besides, the consolidated order book of the group stood at Rs 2,94,014 crore as of June 30, with international order book constituting 21 per cent of the total order book.

On Tuesday, stock price of L&T on the BSE closed at Rs 1,410, higher by Rs 6.20 or 0.44 per cent from the previous close.

--IANS

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