L&T subsidiary bags orders worth Rs 1,700 crore
DSIJ Intelligence / 20 Jan 2017
L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen & Toubro (L&T), has bagged orders worth Rs 1,700 crore in its construction services vertical.
L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen & Toubro (L&T), has bagged orders worth Rs 1,700 crore in its construction services vertical. The company has received orders worth Rs 1,200 crore for pipelines and associated works in western region of India, and another order worth Rs 500 crore for additional work from an existing contract.
On the financial front, L&T's hydrocarbon arm has earned 8.28 per cent of its total revenue amounting to Rs 8,840 crore in FY16. L&T’s revenue increased 8.6 per cent to Rs 46,885 crore in H1FY17, as compared to the same period in the previous financial year. The company’s EBITDA too rose 11.43 per cent to Rs 4,203 crore in H1FY17 on a yearly basis. Its net profit soared 70.74 per cent to Rs 2,044 crore in H1FY17 as compared to the same period in previous fiscal.
The share price of L&T declined by 0.59 per cent on the bourses in early trades and is trading at Rs 1,437.2 on an intra-day basis.
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