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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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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