L&T Q1FY23 results: How the company performed in the last four quarters
Larsen & Toubro’s net profits have been rising due to a higher increase in income as compared to expenditure over the last four quarters.
Larsen & Toubro will announce its financial results for the first quarter of the financial year 2022-23 (FY23) on Tuesday. The company has seen a steady rise in net profits over the last four quarters.
In Q1FY22, the company recorded a net profit of Rs 749.97 crore. In Q2FY22, the profits rose to Rs 2,025.44 crore. The net profits fell to Rs 1,670.84 in Q3FY22, the quarter ending September 2021. The profits rose to Rs 2,901.15 crore in Q4FY22.
The rise in the profits is mainly due to a growth in the company’s total income, despite a steady hike in the total expenditure across the quarters.
The expenditure rose from Rs 12,343.42 crore in the first quarter of FY22 to Rs 33,877.54 in the last quarter. But the income has increased from Rs 13,109 crore in Q1FY22 to Rs 37,439.22 in Q4FY22.
The market volatility that led to a fall in the company’s share price cost Rs 197.47 crore in the last quarter. This can be compared to a profit of Rs 1,242.44 crore in Q3FY22, Rs 521 crore in Q2FY22 and Rs 362.83 crore in Q1F22.
The construction sector in India has been under severe stress due to a rise in oil prices since the start of the calendar year 2022. Crude oil prices have stayed above the $100 per barrel mark for the good part of the year. According to a report by Economic Times, road minister Nitin Gadkari said that the high price of diesel is putting pressure on the construction industry.
However, with the global economies opening up post-Covid pandemic, the sector might see good growth, according to experts.
On Monday, the company’s shares closed at a three-month high of Rs 1,727.25, 2.5 per cent higher than the previous close.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.