L&T Q3 Results: Consolidated Net Profit Rises 14% to Rs 3,359 Crore, Misses Estimates
Larsen & Toubro (L&T) has announced its financial results for the third quarter of fiscal year 2025 (Q3 FY25), reporting a 14% year-on-year increase in consolidated net profit. While the company demonstrated strong revenue growth and a record order book, its profit fell short of Street estimates.
Financial Performance Overview
For the quarter ended December 31, 2024, L&T reported a consolidated net profit of Rs 3,359 crore, up from Rs 2,947 crore in the same period last year. However, this figure was below the Street's estimates of Rs 3,771 crore. The company achieved consolidated revenues of Rs 64,668 crore in Q3 FY25, registering a 17% year-on-year growth. This growth was driven by a strong order book and increased execution momentum across its Projects & Manufacturing (P&M) businesses. Revenue was nearly in line with Street estimates of Rs 64,742 crore.
Key Financial Highlights (Consolidated, YoY)
- Consolidated Net Profit: Increased by 14% to Rs 3,359 crore from Rs 2,947 crore.
- Consolidated Revenue: Increased by 17% to Rs 64,668 crore.
International Revenue and Order Book
L&T's international revenues during the quarter stood at Rs 32,764 crore, constituting 51% of the total revenues. This reflects improved execution in the international P&M portfolio.
The company received its highest-ever quarterly orders of Rs 116,036 crore at the group level during Q3 FY25, registering a substantial year-on-year growth of 53%. Orders were received across multiple geographies and diverse sectors such as thermal power, renewable energy, power transmission, precision engineering, and minerals & metals. International orders comprised 53% of the total order inflow, amounting to Rs 62,059 crore.
Management Commentary
Chairman and Managing Director S.N. Subrahmanyan stated, “This quarter has ended on a strong note for us. We have achieved the highest-ever quarterly order inflow in the company’s history. Consequently, our order book is at a record high." He also expressed expectations for the upcoming Union Budget to emphasize infrastructure development, technology adoption, skill development, and policy continuity towards energy transition.
L&T's Q3 FY25 results reflect strong revenue growth and a record order book, highlighting the company's operational capabilities and market position. While the company's profit missed Street estimates, its performance underscores its ability to secure large projects and deliver robust execution.
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