Larsen & Toubro Q3 FY24: Impressive 15% YoY Profit Surge and Robust Order Book Growth

Larsen & Toubro (L&T), a leading Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, recently announced its financial results for Larsen & Toubro Q3 FY24. The company reported a notable 15.45% YoY increase in consolidated net profit, reaching Rs 2,947.36 crore. This impressive growth was accompanied by an 18.84% surge in revenue from operations, totaling Rs 55,127.82 crore. The quarter’s performance underscores L&T’s resilience and capability to navigate the dynamic economic landscape.

Larsen & Toubro Q3 FY24: Revenue Growth and International Presence

The revenue growth of 18.84% was driven by the strong execution of the robust order book in the Projects and Manufacturing portfolio.

International revenues constituted 44% of the total revenue, reaching Rs 24,300 crore, showcasing L&T’s global footprint.

The company received orders worth Rs 75,990 crore during the quarter, marking a substantial 25% YoY growth.

Larsen & Toubro Q3 FY24: Order Book Details

The consolidated order book stood at an impressive Rs 469,807 crore as of December 31, 2023, with international orders comprising 39%.

Notable order inflows were observed in various sectors, including Hydrocarbon, Solar EPC & Power Transmission, Water Utilities, Buildings & Factories, and Minerals & Metals.

Larsen & Toubro Q3 FY24: Infrastructure Project Segment

The Infrastructure project segment witnessed a 27% YoY growth in customer revenues, reaching Rs 27,845 crore.

Order inflow in this segment saw a substantial 33% YoY increase, with international orders constituting 63% of the total.

Larsen & Toubro Q3 FY24: Energy Projects Segment

The Energy Projects segment secured orders valued at Rs 13,281 crore, reflecting a remarkable 47% YoY growth.

International orders dominated this segment, accounting for 93% of the total order inflow during the quarter.

Larsen & Toubro Q3 FY24 : IT & Technology Services Segment

The IT & Technology Services segment recorded customer revenues of Rs 11,196 crore, with international billing contributing 93%.

The aggregated revenue of L&T’s two listed subsidiaries in this segment registered a YoY growth of 5% in USD terms.

Larsen & Toubro Q3 FY24: Financial Services Segment

The Financial Services segment, represented by L&T Finance Holdings, recorded a 2% YoY growth in income from operations.

Retail loans constituted 91% of the total loan book as of December 31, 2023.

Larsen & Toubro Q3 FY24: Outlook and Future Initiatives

Despite global economic volatility, L&T remains positive about continued investment spends in both India and the Middle East.

The company highlighted its foray into fabless semiconductor chip design and emphasized its focus on emerging opportunities in Digital Platforms, Data Centers, and Green Energy.

Larsen & Toubro Q3 FY24: Strategic Moves

The board approved the merger of L&T Energy Hydrocarbon Engineering and L&T Sapura Offshore Private, wholly owned subsidiaries.

Additionally, the board approved an equity investment of up to Rs 2,774 crore in L&T Metro Rail (Hyderabad), reinforcing L&T’s commitment to strategic investments.


Larsen & Toubro’s robust performance in Q3 FY24, marked by significant growth in both revenue and order book, underscores its resilience and strategic focus. The company’s diversified business segments, strong international presence, and proactive strategic moves position it well for sustained success in the ever-evolving global business landscape. As L&T continues to tap into emerging opportunities and remains committed to creating sustainable long-term returns, stakeholders can anticipate positive developments in the quarters to come.

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