Larsen & Toubro falls 2% on profit booking post Q3 results

L&T reported a strong order book of Rs 3.72 trillion, suggesting good revenue visibility in coming years.

Shares of Larsen & Toubro (L&T) were down 2 per cent at Rs 2,075 on the BSE in Tuesday’s intra-day trade on profit booking after the engineering company reported a consolidated net profit of Rs 2,553 crore for the October-December quarter (Q3FY23, up 24.2 per cent from a year ago.

The company’s revenue from operations in the quarter under review were up 17.3 per cent year-on-year (YoY) to Rs 46,390 crore, aided by strong order inflows and improved execution of projects. Earnings before interest, tax, depreciation, and amortisation (Ebitda) margins also contracted 51 basis points from the same period