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ICICI Direct Report
Larsen and Toubro Ltd. reported a good set of Q2 FY23 numbers.
L&T's adjusted standalone revenues (excluding- electrical and automation ) for the quarter grew 21.1% YoY to Rs 25769.8 crore (versus our estimate of Rs 23205.6 crore).
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On a standalone basis, infrastructure segment revenue grew 38% to Rs 18476.45 crore on a YoY basis aided by improved execution momentum.
Energy segment revenue came in at Rs 4702.2 crore, down 17.2% YoY since the previous year had the benefit of a mega international order received in the hydrocarbon business.
Hi-tech manufacturing segment posted revenue of Rs 1588.9 crore and marginally grew 3.7% YoY.
Others segment reported strong growth of 57% YoY to Rs 1336.9 crore, owing to an increase in sales of rubber processing machinery and improved execution of jobs in the Smart World and communication business.
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