Engineering and construction major Larsen & Toubro (L&T) on Wednesday reported a 16% rise in its consolidated net profit for the July-September quarter, narrowly missing Bloomberg’s consensus estimate. The company posted a profit of Rs 3,926 crore for the period, up from Rs 3,395 crore in the same period last year. Sequentially, profit grew 8.5%. Bloomberg had pegged net profit at Rs 4,005 crore.
Revenue rose 10.4% year-on-year to Rs 67,984 crore in the quarter, compared to Rs 61,555 crore a year earlier, but again fell short of the Bloomberg consensus estimate of Rs 70,478 crore. Operating performance remained steady, though margins were under slight pressure.
L&T’s earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 6,806 crore, a 7% rise from Rs 6,362 crore in the same quarter last year. Analysts had expected Ebida of around Rs 7,056 crore. The company’s Ebitda margin slipped to 10% from 10.3% a year ago, primarily due to margin compression in its IT and technology services business, L&T said in its post-results presentation.
Despite the marginal miss on estimates, the quarter saw strong order inflows. L&T reported new orders worth Rs 1,15,784 crore at the group level, up 45% year-on-year and the highest-ever quarterly intake.
The momentum, the company said, was broad-based across verticals. International orders accounted for Rs 75,561 crore, forming 65% of total inflows. Around half of domestic orders were from the infrastructure segment, while international business was driven by hydrocarbons, renewables and power transmission projects.
Order wins during the quarter included projects in public spaces, data centres, commercial buildings, metro systems, hydel and tunnel works, transmission and distribution networks, and both onshore and offshore hydrocarbon operations. The consolidated order book stood at Rs 6,67,047 crore as of September 30, 2025, a 15% increase over the March-end figure. International orders made up 49% of the total backlog.
For the first half of FY26, total order inflows touched Rs 2,10,237 crore, up 39% year-on-year. Overseas orders of Rs 1,24,236 crore contributed nearly 59% of the total. Looking ahead, the company expects order prospects of over Rs 10.4 lakh crore in the near term, with Rs 6.5 lakh crore expected from infrastructure and the rest from hydrocarbons, energy and allied sectors.
S N Subrahmanyan, chairman and managing director, said the results reflected a well-rounded performance across parameters. “Our ability to repeatedly secure large orders across segments and geographies underscores our leadership in the EPC space. The consistent execution across our portfolio highlights our resilience in navigating local and global challenges,” he said. Subrahmanyan added that capex spending remains strong in India and the Middle East, keeping the company optimistic on order prospects.
R Shankar Raman, whole-time director and chief financial officer, noted an uptick in private sector capital deployment in infrastructure and real estate. “We are well positioned to exceed our guidance on order inflows. On revenues, we need to grow faster in the second half to meet our 15% growth guidance,” he said.