L&T’s Q3 profit dips despite 53 pc surge in orders, rising costs squeeze margins
L&T's revenue rose by 17 per cent at Rs 64,668 crore in Q3FY25, up from Rs 55,128 crore in Q3FY24, according to its stock exchange filing.
L&T Technology Services (LTTS) on Monday said it has bagged a Europe-based multi-million-dollar engineering, procurement and construction management project.
The shares of LTTS were trading at Rs 1,474.60 a piece on BSE in morning trade.
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“L&T Technology Services Ltd (LTTS)…won a multi-million-dollar project from one of the world’s top plastics, chemicals and refining manufacturers, to deliver the entire spectrum of engineering, procurement and construction management (EPCM) services for the expansion of an existing site in Europe,” the company said in a filing to BSE.
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The expansion project will be implemented at the customer’s brownfield plant in Germany over 30 months, where LTTS will play a crucial role as a strategic engineering partner. LTTS will execute the entire project through an EPCM model, from procurement and supply chain management support to safety aspects and efficient design.
“LTTS has already carried out successful brownfield projects in the USA and we are privileged to extend our engagement with an important customer to the European markets,” Amit Chadha, President, Sales and Business Development and board member at L&T Technology Services said.
LTTS’s consolidated net profit rose 7.7 per cent to Rs 205.80 crore on a 10.7 per cent to Rs 1402.10 crore in Q2 September 2019 over the previous year.
(With input from agencies)
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