L&T gains 4% after net profit spikes 45% YoY to Rs 1,702 crore in Q1FY23

Analysts believe that the company's strong order book position at Rs 363,448 crore suggests good revenue visibility in the coming years.

Shares of Larsen & Toubro (L&T) were up nearly 4 per cent to Rs 1,813.20 on the BSE in Wednesday’s intra-day trade. The spike comes after the engineering, designing & construction major reported a good set of numbers for the quarter ended June 2022(Q1FY23). The company’s strong order book at Rs 363,448 crore, too, suggested optimistic revenue visibility in the coming years.

In Q1FY23, L&T secured orders worth Rs 41,805 crore at the group level, registering a growth of 57 per cent over corresponding quarter of the previous year. Meanwhile, international orders at Rs 17,842 crore during the quarter