Larsen and Toubro Ltd : 3QFY21 By Mr. Keshav Lahoti, Angel Broking
Below are Views On Larsen and Toubro Ltd : 3QFY21 By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd
L&T Gross Revenues was Rs35,596 crore for the quarter ended December 31, 2020, registered a sequential growth of 15%. The Covid-19 restrictions continued to have an impact on project site execution and Hyderabad metro operations that led to a marginal decline in revenue of 2% over the corresponding quarter of the previous year. Consolidated Profit After Tax (PAT) for the quarter ended December 31, 2020 at Rs 2,467 crore registered growth of 4.9% over the corresponding quarter of the previous year, largely attributed to higher profit from IT & TS segment and sale of commercial property in Realty. During the quarter, the Company was awarded the biggest EPC contract in the country High Speed Rail order. With this, the Group order inflow for the quarter ended December 31, 2020 registered a strong growth of 76% over the corresponding quarter of the previous year and stood at Rs 73,233 crore. Overall, numbers were above our expectation. As infrastructure ordering and execution activity is picking up and the Company is available at reasonable valuation, we are bullish on the Company.
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