Larsen & Toubro enjoys revenue growth

Indian contractor Larsen & Toubro (L&T) reported a +10% increase in revenues for the quarter ended September 30, 2013, at INR 14,648 crore (US$ 2.38 billion).

Revenues for the six months from April to September stood at INR 27,352 crore (US$ 4.44 billion), up +8% year-on-year.

The growth was sustained by a +27% jump in order inflow, with INR 26,533 crore (US$ 4.31 billion) of new business signed in the second quarter. International orders rose by +43% on the back of a number of large projects in the Middle East.

L&T’s order book stood at INR 176,036 crore (US$ 28.6 billion) at September 30, 2013, up +11% on 2012 figures.

The contractor's infrastructure segment reported revenue of INR 7,181 crore (US$ 1.17 billion), up +36% on Q2 2012. Of this, 16% of sales came from international markets. Order intake for the segment was also up, +39% to INR 19,128 crore (US$ 3.11 billion).

The company's property development business also posted record revenue of INR 114 crore (US$ 18.5 million).

Looking ahead, L&T stated said it was, “hopefull of meeting its growth aspirations in the near and medium term.”