L&T rises after hydrocarbon business bags 'large' contracts

Larsen & Toubro gained 2.03% to Rs 1508.15 after the hydrocarbon division of L&T Energy secured three offshore packages from an overseas client for engineering, construction, and installation of various new offshore jacket structures.

As per L&T classification, the value of the 'large' contract lies between Rs 2,500 crore and Rs 5,000 crore.

The company said that L&T Energy Hydrocarbon (LTEH) is executing several domestic and international offshore projects, organized under offshore, onshore, construction services, modular fabrication and advanced value engineering & technology (AdVENT) verticals.

LTEH has executed orders from this client in the past. It offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers.

 

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. The EPC major's consolidated net profit rose 10% to Rs 3620.69 crore on 9.9% increase in net sales to Rs 52,850.67 crore in Q4 FY22 over Q4 FY21.

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