L&T Q3 Review - Execution Gradually Regaining Ground Amid Recovery: ICICI Direct  
A security guard stands outside a project office of Larsen & Toubro in the Hazratganj area of Lucknow. (Photographer: Prashanth Vishwanathan/Bloomberg)

L&T Q3 Review - Execution Gradually Regaining Ground Amid Recovery: ICICI Direct  


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ICICI Direct Report

Larsen and Toubro Ltd.’s adjusted standalone revenues (excluding electrical and automation business) for the quarter de-grew 1.3% YoY to Rs 19619.8 crore versus our estimate of Rs 19984.8 crore.

On a standalone basis, infrastructure segment revenue (contributing approximately 77%) fell 7.9% to Rs 15106.8 crore YoY due to job mix and site productivity however execution improved sequentially due to higher workforce mobilisation and supply chain normalisation.

On a consolidated basis, adjusted revenues from continuing operations fell 1.8% to Rs 35596.3 crore YoY.

Click on the attachment to read the full report:

ICICI Direct Larsen&Toubro Q3FY21 Result Update.pdf


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