L&T reports 68% fall in its Q1 consolidated net profit

Mumbai, July 22 (IANS) Industrial conglomerate Larsen & Toubro (L&T) on Wednesday reported a 68.37 per cent drop in its consolidated net profit for the first quarter (April-June) of the financial year 2020-21, at Rs 536.88 crore.During the corresponding period of the last fiscal, the company had reported a net profit of Rs 1,697.62 crore.The company's total income during the period under review fell 27.19 per cent to Rs 22,037.37 crore."Revenue was impacted by nation-wide lockdown, resulting in halting of manufacturing and construction activities, non-availability of labour and disruptions to the supply chain ecosystem," the company said in a regulatory filing.The company bagged orders worth Rs 23,574 crore at the group level during the quarter ended June 30, 2020 registering a decline of 39 per cent, amid the low interest towards fresh investment and deferment of award decisions.International orders during the quarter stood at Rs 8,872 crore and constituted 38 per cent of the total order inflow. The consolidated order book of the group stood at Rs 3,05,083 crore as at June 30, with international order book constituting 24 per cent of the total.
--IANS rrb/sn/vd