Larsen and Toubro Ltd.'s net profit for the third quarter of fiscal year 2025-26 fell 4.3% year-on-year, weighed down by a one-time impact of the new labour codes, according to an exchange filing on Wednesday.
The company reported a consolidated bottom-line at Rs 3,215 crore compared to Rs 3,359 crore in the year-ago period. The net profit missed the consensus estimate of Rs 4,413 crore, as projected by the analysts tracked by Bloomberg.
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The infrastructure major noted in its earnings scorecard that it made a one-time material provision of Rs 1,191 crore (net of tax and NCI) towards employee benefits arising from the implementation of the new labour codes.
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Even as profit slipped, L&T's revenue jumped 10.5% to Rs 71,450 crore, thereby meeting analysts' estimates. In the corresponding quarter of last year, the company's top-line stood at Rs 64,668 crore.
The earnings before interest, tax, depreciation, and amortisation were also in line with the estimates, rising 18.6% to Rs 7,417 crore from Rs 6,255 crore in the year-ago period. The margins expanded to 10.4% versus 9.7% in the same quarter last year.
The company's order book, as of Dec. 31, 2025, stood at Rs 7.33 lakh crore, marking a 30% growth over the year-ago period.
“We have witnessed another landmark quarter for the company as we posted our highest ever quarterly order inflow. For the first time, the quarterly order inflow in our Projects & Manufacturing (P&M) portfolio has exceeded the Rs 1 lakh crore mark - a clear reflection of our capabilities and the inherent strength of our business model," said S N Subrahmanyan, chairman and managing director of the company.
Larsen & Toubro Q3 Highlights (Consolidated, YoY)
- Revenue up 10.5% at Rs 71,450 crore versus Rs 64,668 crore (Bloomberg estimate: Rs 73,599 crore)
- Ebitda up 18.6% at Rs 7,417 crore versus Rs 6,255 crore (Bloomberg estimate: Rs 7454 crore)
- Margin at 10.4% at versus 9.7% (Bloomberg estimate: 10.1%)
- Net profit down 4% at Rs 3,215 crore versus Rs 3,359 crore (Bloomberg estimate: Rs 4,413 crore)
Before the quarterly results were declared, shares of L&T ended 0.10% higher at Rs 3,793.65 apiece on the BSE, compared to a 0.6% advance in the benchmark Sensex.
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