The shares of this one of India’s largest infrastructure companies gained up to 2 percent after receiving an order for the Construction of the greenfield International Airport from GMR Visakhapatnam International Airport Ltd.
Larsen & Toubro Ltd is a Large -cap company with a market capitalization of Rs 3,99,739 crore, On Monday, the shares were trading at Rs 2,964.60, an increase of 1.94 percent from the previous close price of Rs 2,908.15.
According to the company filing, Larsen & Toubro Ltd received a large contract under Rs 2,500 to 5,000 crores from GMR Visakhapatnam International Airport Ltd for the construction of the greenfield Bhogapuram International Airport at Bhogapuram, Andhra Pradesh.
The project will initially be developed to accommodate 6 MPA (million passengers per annum) capacity to be further enhanced to a capacity to handle 12 MPA.
Larsen & Toubro Ltd has classified projects into five categories including (Rs 1,000 to Rs 2,500) crore as significant order, ( Rs 2,500 to Rs 5,000) crore as large order, (Rs 5,000 to Rs 10,000)crore as major order, (Rs10,000 to Rs15,000)Crore as ultra order, and ( >Rs15,000) as ultra mega order.
Looking at the company’s financials, the company’s revenue increased 6.5 percent On QnQ from Rs. 47,882.37 crores in Q1FY23 to Rs.51,024.04 crores in Q2 FY23. Further, During the same period, net profit increased by 23.7 percent from Rs 3,116.12 crores to Rs 3,855.55 crores.
Larsen & Toubro’s order book stands at Rs 4,057 billion in the September quarter of FY23-24, which is 22 percent higher than the previous year’s quarter.
The company reported an increase in the return ratios with the return on equity (ROE) increasing from 13.07 percent in FY 2021-22 to 14.78 percent in FY 2022-23, and in the same time frame, return on capital employed (ROCE) increased from 11.61 percent to 12.98 percent.
Larsen & Toubro Ltd is a multinational company that is primarily engaged in providing engineering, procurement, and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power and Financial Services in domestic and international markets
Written By:- Abhishek Singh
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