L&T beats estimates as Q1 net profit surges 45% YoY to Rs 1,702 crore

But sequentially, it declines 53% amid inflationary pressure & Rs depreciation

Engineering major Larsen & Toubro (L&T) on Tuesday reported nearly 45 per cent growth in its consolidated net profit to Rs 1,702.07 crore for the quarter ended June 30, 2022 (Q1). In the year-ago period, net profit came in at Rs 1,174.44 crore. 

This compares favourably with Bloomberg consensus estimates of Rs 1,647 crore for the period. But sequentially, Q1 net profit was down 53 per cent, pointing to inflationary pressure and rupee depreciation woes plaguing the company, sector analysts said.

The company’s consolidated revenue from operations increased 22.22 per cent to Rs 35,853.20 crore during the quarter under review