Services segment's contribution powers L&T to change business mix
Posted on 31st July 2018 |
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Larsen & Toubro (L&T), an engineering major perceived as a proxy to core sector economic activity, is seeing its services portfolio getting strengthened. A closer look at the company’s financial performance in the June quarter reveals it is coming out of its traditional image. Contribution from the services sector to L&T’s order inflow in April-June 2018 was an impressive 21.8 per cent, second to infrastructure that continued to be high at 42.9 per cent. |
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L&T's first quarter net up 36% at Rs 12.1 billion, revenue increases by 19%
Posted on 26th July 2018 |
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Engineering conglomerate Larsen & Toubro (L&T) on Wednesday reported a 36 per cent year-on-year rise in consolidated net profit to Rs 12.14 billion during the April-June quarter, against Rs 8.92 billion a year ago, helped by increase in revenue and improved operational efficiency. |
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L&T Technology Services rallies 14% on strong Q1 results
Posted on 24th July 2018 |
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Shares of L&T Technology Services (LTTS) have rallied 14% to Rs 1,485 per share on the BSE in early morning trade after the company reported a more-than-double net profit of Rs 1,981 million in June quarter (Q1FY19). The L&T group company had profit of Rs 980 million in the year ago quarter. |
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L&T Finance Holdings Q1 net profit rises 71% to Rs 5.38 billion
Posted on 21st July 2018 |
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L& T Finance Holdings on Friday said its net profit grew 71 per cent to Rs 5.38 billion for the quarter ended June 2018 (Q1), compared to Rs 3.14 billion a year ago. The finance arm of Larsen & Toubro has prepared financial statement for Q1 according to the new accounting rules Indian Accounting Standards, which came into effect from April 1, 2018. |
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L&T structured finance head Navin Gupta quits
Posted on 17th July 2018 |
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A churn may take place at L&T’s structured finance business as its head Navin Gupta has quit and it is understood that some of his team members — industry sources say eight — are also likely to leave the company, people with direct knowledge of the matter told FE. The sources also said that Gupta is currently in discussions with engineering group Kirloskar, which is diversifying into the financial services business with an NBFC. However, his joining the Kirloskar Group is not yet final. |
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L&T construction bags order worth Rs 30 bn in Andhra Pradesh, Oman
Posted on 13th July 2018 |
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Larsen & Toubro (L&T) on Friday said its construction arm has won orders worth Rs 30 billion to build office buildings in Andhra Pradesh and a tourism-related facility in Oman. "The construction arm of L&T has won orders worth Rs 30 billion in the buildings and factories business, the company said in a BSE filing. |
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L&T gains on order win worth Rs 23.88 billion
Posted on 12th July 2018 |
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Larsen & Toubro (L&T) has moved higher by 1.3% at Rs 1,292 on the BSE after the company said its water & effluent treatment business won orders valued Rs 23.88 billion. The orders have been secured from the Madhya Pradesh Jal Nigam Maryadit for the execution of Satna, Kundatiya and Mohanpura multi village rural water supply schemes on turnkey basis. The projects are funded by the New Development Bank, L&T said in a press release. |
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Larsen & Toubro's hydrocarbon business records a profit margin of 7.7%
Posted on 23rd June 2018 |
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For 2017-18, Larsen & Toubro’s (L&T) hydrocarbon business recorded a profit margin of 7.7 per cent. This, for the segment that earlier struggled with sticky orders, is a complete turnaround from losses reported between fiscal year 2013 and 2015. Top officials heading the segment attribute the turnaround story to major internal restructuring and cost rationalisation, while external factors continued to remain challenging. |
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L&T plans to bid for HAM projects through subsidiary
Posted on 12th June 2018 |
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India’s largest engineering and construction firm, Larsen and Toubro (L&T), is planning to start bidding for road projects under the hybrid annuity model (HAM), introduced just two years ago. The company will bid for HAM projects through its infrastructure development subsidiary, L&T L&T Infrastructure Development Projects (IDPL), L&T IDPL’s CEO Shailesh Pathak told FE. |
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