Larsen & Toubro's power transmission and distribution sector received big orders on Wednesday in the Indian and Middle Eastern markets, according to a BSE filing.
L&T’s in India & Middle East
The company received an order to install a floating solar PV plant on the dam with a capacity of 75 MW. This facility is a component of the ultra-mega renewable energy power park that is being built in West Bengal and Jharkhand on the reservoirs owned by the Damodar Valley Corporation.
The company has secured an order for the turnkey construction of a substation in Saudi Arabia. Additionally, the company has received orders for voltage conversion and substations from Saudi Arabian and Kuwaiti hydrocarbon industries. An extra order has been obtained for a 220 KV power supply project that is currently underway in the UAE."
Large orders are classified by the company as those ranging from ₹2,500 crore to ₹5,000 crore.
Larsen & Toubro’s FY results
This happened on January 30, 2024, the day Larsen & Toubro released its Q3 FY24 results. YoY, the profit climbed by 15.45% and the topline by 18.84%. Revenue increased by 8.04% and profit dropped by 8.54% from the previous quarter.
Selling, general, and administrative costs grew by 6.46% year over year and decreased by 1.7% quarter over quarter. Operating income climbed 10.37% year over year and by 2.46% quarterly. For Q3 FY24, the EPS increased by 22.64% YoY to ₹21.42.
As of February 1, 2024, out of 29 analysts covering the firm, two have given a sell recommendation, 13 have given a buy rating, and 14 have given a strong buy rating.
A multinational corporation worth USD 23 billion, Larsen & Toubro is involved in high-tech manufacturing, services, and engineering, procurement, and construction (EPC) projects.
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