L&T Q2 falls short of estimates; net profit up 16%, order inflows surge 45%

Infrastructure major Larsen & Toubro Ltd (L&T) on Wednesday (October 29) reported a 15.6% year-on-year increase in consolidated net profit at ₹3,926 crore for the quarter ended September 30, 2025, compared to ₹3,395 crore in the same quarter last year. The figure was slightly below the CNBC-TV18 poll estimate of ₹3,990 crore.

Revenue for the quarter stood at ₹67,983 crore, up 10.4% from ₹61,554 crore a year ago, but lower than the poll estimate of ₹69,950 crore. The company’s EBITDA came in at ₹6,806.5 crore, reflecting a 7% year-on-year growth from ₹6,362 crore in the corresponding period. EBITDA margins remained steady at 10%, in line with the CNBC-TV18 poll estimate, but slightly lower than 10.3% a year earlier.

International revenues during the quarter were at ₹38,223 crore, constituting 56% of the total revenue. The company, for the half-year ended September 30, 2025, posted a consolidated Profit After Tax of ₹7,543 crore, registering a year-on-year growth of 22%.

The company secured orders worth ₹210,237 crore, registering a year-on-year growth of 39% for the half-year ended September 30, 2025. During the half-year, big-ticket order wins were in Public Spaces, Commercial Buildings, Metro, Hydel & Tunnel, Transmission & Distribution, Renewables, Non-Ferrous Metals, Thermal BTG, and Offshore and Onshore businesses in the Hydrocarbon sector. International orders at ₹124,236 crore during the half-year constituted 59% of the total.

On a quarterly basis, orders worth ₹115,784 crore were received at the Group level during the quarter ended September 30, 2025. The Company registered a year-on-year growth of 45%, aided by a strong order momentum across a broad spectrum of businesses.

The quarter saw order wins in businesses such as Public Spaces, Data Centres, Commercial Buildings, Metro, Hydel & Tunnel, Transmission & Distribution, Renewables, and both Offshore and Onshore businesses in the Hydrocarbon sector. International orders stood at ₹75,561 crore, accounting for 65% of the total order inflow.

The consolidated order book of the group as on September 30, 2025, was at ₹667,047 crore, a growth of 15% over March 2025. International orders comprise 49% of the order book. The company achieved consolidated revenues of ₹131,662 crore, recording a year-on-year growth of 13% on a half-year basis. International revenues during the half-year at ₹71,217 crore constituted 54% of the total revenue.

Shares of Larsen and Toubro Ltd

ended at ₹3,951.70, down by ₹21.15, or 0.53%, on the BSE.