Larsen & Toubro on Wednesday bagged large orders in Indian and Middle Eastern markets through its power transmission and distribution business, the company said in a filing to BSE.
The business has been ordered to set up a 75 MW floating solar photovoltaic plant on the dam. This plant is part of the ultra-mega renewable energy power park, being developed on Damodar Valley corporation reservoirs in Jharkhand and West Bengal.
In Saudi Arabia, the company bagged an order for a key substation construction. “The business has also won substation and voltage conversion orders from hydrocarbon companies in Kuwait and Saudi Arabia. In an ongoing 220 KV Power Supply Project in the UAE, an additional order has been secured.”
According to the company’s classification, orders ranging between ₹2,500 crore and ₹5,000 crore falls in the category of large orders.
This came after Larsen & Toubro declared its Q3 FY24 results on 30 January 2024. The top line increased by 18.84% and the profit increased by 15.45% YoY. Compared to the previous quarter, the revenue grew by 8.04% and the profit decreased by 8.54%.
Selling, general and administrative expenses decreased by 1.7% qoq & increased by 6.46% YoY. The operating income increased by 2.46% tmt and increased by 10.37% YoY. The EPS is ₹21.42 for Q3 FY24, which was up 22.64% YoY.
As of February 01, 2024, out of 29 analysts covering the company, 2 analysts have given a Sell rating, 13 analysts have given a Buy rating, and 14 analysts have given a Strong Buy rating.
Larsen & Toubro is a US$23 billion multinational company engaged in engineering, procurement and construction (EPC) projects, high-tech manufacturing, and services.
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Published: 07 Feb 2024, 12:13 IST