L&T net soars 37% to Rs 2,042 crore

Engineering and construction major Larsen & Toubro on Friday posted a 37 percent growth in its net income at Rs 2,042 crore on a robust 24 percent uptick in revenue at Rs 35,709 crore for the three months to December.

A "strong execution in project businesses coupled with noteworthy performance in service businesses" led to a jump in revenue during the reporting period, the company said in a statement to the exchanges.

At Rs 11,476 crore, its international revenue constituted 32 per cent of the overall revenue, it said, adding during the quarter it secured orders worth Rs 42,233 crore at the group level.

The quarter also witnessed delays in order awards due to deferment of select prospects, mainly in transportation infrastructure, heavy civil infrastructure and power businesses, the company said.

The company’s scrip closed 0.85 per cent down at Rs 1,285.55 on the BSE, as against a 0.47 percent correction in the benchmark. The numbers were announced post-market hours.