In the corresponding quarter of the previous fiscal, Larsen & Toubro posted a net profit of ₹2,786 crore. The CNBC-TV18 poll had predicted a profit of ₹3,387 crore for the quarter under review.
Revenue from operations increased 15.5% to ₹63,678 crore against ₹55,119 crore a year ago, beating the projected figure of ₹62,829 crore.
At the operating level, EBITDA increased 12.5% to ₹6,316 crore in the first quarter over ₹5,615 crore in Q1FY25. The CNBC-TV18 poll had predicted an EBITDA of ₹6,362 crore.
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The EBITDA margin narrowed slightly to 9.9% in the reporting quarter from 10.2%. The CNBC-TV18 poll had predicted a margin of 10.1% for the quarter under review.
The company received orders worth ₹94,453 crore at the Group level during the quarter ended June 30, 2025. The company registered a YoY growth of 33% aided by a strong ordering momentum witnessed across diverse businesses.
During the quarter, orders were received across multiple businesses like Thermal BTG, Renewables, Power Transmission & Distribution, Hydel, Non-Ferrous Metals, Offshore & Onshore businesses of Hydrocarbon,
Commercial and Residential projects. International orders stood at ₹48,675 crore, accounting for 52% of the total order inflow.
The consolidated order book of the group as of June 30, 2025, was at ₹612,761 crore, a growth of 6% over March 2025. The share of international orders is 46%. International revenues during the quarter were at ₹32,994 crore, which constituted 52% of the total revenues.
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In the Infrastructure Projects segment, Larsen & Toubro secured an order inflow of ₹41,024 crore during the quarter ended June 30, 2025, registering a 2% growth over the same period last year. International orders made up 69% of the total, supported by major wins in the Renewables and Transmission & Distribution businesses.
The order book for the segment stood at ₹3,70,390 crore as of June 30, 2025, with 42% comprising international orders. Customer revenues in the quarter stood at ₹28,757 crore, reflecting a 7% year-on-year growth, with 40% coming from international markets. The segment’s EBITDA margin was stable at 5.7%, in line with the same quarter of the previous year.
The Energy Projects segment reported order inflows of ₹31,420 crore during the quarter, registering more than 100% growth year-on-year, aided by multiple BTG package wins in the CarbonLite Solutions business. International orders accounted for 24% of the total order inflow.
The segment’s order book was ₹1,86,401 crore as of June 30, 2025, with 65% comprising international orders. Customer revenues rose 47% year-on-year to ₹12,470 crore, driven by ramped-up execution of international projects in the Hydrocarbon business. International revenues contributed 71% of the total. The EBITDA margin for the quarter was 7.3%, compared to 8.7% a year earlier, reflecting variations in project execution stages.
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In the Hi-Tech Manufacturing segment, L&T secured orders worth ₹1,889 crore in the quarter, a 49% decline over the previous year due to a high base in the Precision Engineering & Systems (PES) business. Export orders accounted for 52% of the total order inflow.
The order book stood at ₹39,162 crore as of June 30, 2025, with 12% from export markets. Customer revenues grew 75% year-on-year to ₹3,227 crore, driven by better execution in both Heavy Engineering and PES. International revenues contributed 25% of the total. The segment’s EBITDA margin stood at 15.1%, down from 17.4% in the previous year, primarily due to early-stage execution of key PES orders that have not yet contributed margin.
The IT & Technology Services (IT&TS) segment recorded customer revenues of ₹12,619 crore during the quarter, reflecting a 10% year-on-year growth. International billing constituted 92% of the total revenues. The EBITDA margin for the quarter was 19.5%, slightly lower than 20.0% a year ago, due to incremental costs associated with newly incubated businesses.
The Financial Services segment posted income from operations of ₹3,971 crore in the quarter, up 8% year-on-year, mainly due to focused higher disbursements in the retail business. The total loan book as of June 2025 stood at ₹1,02,314 crore, up 5% from ₹97,762 crore in March 2025. The retail loan book made up 98% of the total. The segment’s profit before tax for the quarter was ₹943 crore, in line with the previous year.
In the Development Projects segment, customer revenues stood at ₹1,242 crore for the quarter, reflecting a 6% year-on-year decline due to a lower Plant Load Factor (PLF) at the Nabha thermal power plant. The segment’s EBIT was ₹143 crore, consistent with the same period in the previous year.
The results came after the close of the market hours. Shares of Larsen and Toubro Ltd ended at ₹3,495.10, up by ₹72.90 or 2.13%, on the BSE.
