L&T Q1FY19 consolidated PAT grows by 36%; won orders worth Rs 36,142 crore

One of the largest construction and engineering service provider Larsen & Toubro recorded positive June 2018 quarter (Q1FY19) result which was also in line with analysts estimates. L&T posted consolidated  Profit After Tax (PAT) for the quarter ended June 30, 2018 at 1,215 crore was higher by 36% vis-a-vis PAT of 893 crore for the corresponding quarter of the previous year. 

While revenue came in at Rs 28,283 crore for the quarter ended June 30, 2018, registering a growth of 18% on a y-o-y basis with pick up of execution momentum in project businesses, robust growth in services business and recognition of revenue on completed performances in Realty business under the newly introduced accounting standard for revenue recognition (IND AS 115). 
International revenue during the quarter at Rs 9,669 crore constituted 34% of the total revenue in line with previous year

A Bloomberg poll of analysts predicted net profit and revenue to come in at Rs 1,243 crore and Rs 27,200 crore respectively during Q1FY19. 

In its financial audit report, L&T highlighted that it bagged new orders worth Rs 36,142 crore at the group level during the quarter ended June 30, 2018, recording a growth of 37%, with pick-up in domestic ordering activity during the quarter. 

International orders at Rs 9,404 crore constituted 26% of the total order inflow. Infrastructure, Hydrocarbon and Heavy Engineering businesses largely contributed to the growth in order inflows during the quarter. 

Consolidated Order Book stood at Rs 271,732 crore as at June 30, 2018. International Order Book constituted 23% of the total Order Book.