Larsen & Toubro Ltd (L&T) on Tuesday released its fiscal first quarter earnings report with profit at Rs 3,617.19 crore, posting a growth of 29.85 per cent on-year, surpassing estimates. It had posted profit at Rs 2,785.72 crore during the first quarter of previous financial year. The company EBITDA stood at Rs 6,316 crore.
The company recorded revenue from operations at Rs 63,678.92 crore, with healthy execution witnessed in its key Projects & Manufacturing (P&M) portfolio. This was 15.53 per cent higher as against Rs 55,119.82 crore reported during the corresponding quarter of FY25. International revenues during the quarter were at Rs 32,994 crore which constituted 52 per cent of the total revenues.
According to a CNBC TV18 poll, L&T was expected to post Q1 profit at Rs 3,387 crore and revenue for the quarter was estimated at Rs 62,829 crore.
SN Subrahmanyan, Chairman and Managing Director, L&T, said, “This quarter we have performed well across all financial parameters. At a Group level, we registered once again, the highest order inflow for Q1 ever. Besides improved performance on all P&L parameters, the return ratios have also moved higher.
Here are other takeaways from Q1 earnings report
L&T Q1 Results: Deal wins
L&T received orders worth Rs 94,453 crore at the Group level during the quarter ended June 30, 2025. The company registered a YoY growth of 33 per cent aided by a strong ordering momentum witnessed across diverse businesses.
During the quarter, it said, orders were received across multiple businesses like Thermal BTG, Renewables, Power Transmission & Distribution, Hydel, Non-Ferrous Metals, Offshore & Onshore businesses of Hydrocarbon, Commercial and Residential projects.
International orders, meanwhile, stood at Rs 48,675 crore, accounting for 52 per cent of the total order inflow.
The consolidated order book of the group as on June 30, 2025, was at Rs 612,761 crore. This was 6 per cent higher as against Mar’25. The share of international orders was 46 per cent.
SN Subrahmanyan said, “The projects and manufacturing businesses of the company continue to perform well. The record order book of Rs 6 lakh crore+ is a testimony of our proven expertise in the domains of engineering, construction, manufacturing, and project management.”
L&T Q1 Results: Performance across business verticals
The Infrastructure Projects segment secured order inflow of Rs 41,024 crore during Q1FY26, registering a moderate growth of 2 per cent over the corresponding quarter of the previous year. International orders constituted 69 per cent of the total order inflow of the segment during the quarter. This was aided by receipt of major orders in the Renewables and Transmission & Distribution businesses.
The Energy Projects segment secured orders valued at Rs 31,420 crore during the quarter ended June 30, 2025, registering more than 100 per cent growth on YoY basis with receipt of multiple BTG packages in the CarbonLite Solutions business. International order inflows constituted 24 per cent of the total order inflow during the quarter. The segment’s EBITDA margin stood at 7.3 per cent for the quarter, compared to 8.7 per cent in the corresponding quarter of the previous year.
The Hi-Tech Manufacturing segment secured orders valued at Rs 1,889 crore for the quarter ended June 30, 2025, a 49 per cent decline over the corresponding quarter of the previous year. This was primarily attributable to a high base in the Precision Engineering & Systems (PES) business. Export orders constituted 52 per cent of the total order inflow of the segment during the quarter. The EBITDA margin of the segment was at 15.1 per cent for the quarter.
The IT & Technology Services (IT&TS) segment recorded customer revenues of Rs 12,619 crore for the quarter, registering a growth of 10 per cent, largely in line with the cautious IT&TS spending across the developed world. International billing contributed 92 per cent of the total customer revenues. The EBITDA margin for the segment was lower at 19.5 per cent compared to 20.0 per cent in the corresponding quarter of the previous year.
The Financial Services segment recorded income from operations at Rs 3,971 crore during Q1FY26, registering a growth of 8 per cent mainly attributable to the focused higher disbursements in the retail business.
The Development Projects segment recorded customer revenues of Rs 1,242 crore during the quarter, registering decline of 6 per cent on-year largely attributable to lower Plant Load Factor (PLF) at the Nabha thermal power plant. The segment EBIT for the quarter stood at Rs 143 crore.