L&T's Q2 consolidated net profit down 44.7%

Mumbai, Oct 28 (IANS) Larsen & Toubro on Wednesday reported a 44.7 per cent fall in its consolidated net profit for the July-September quarter at Rs 1,410.29 crore.During the corresponding period of last fiscal (FY20), the company had reported a consolidated net profit of Rs 2,551.67 crore."The impact of pandemic in terms of lower revenue, higher credit provisions in the financial services business and disruption of the metro services, led to decline of 45 per cent vis-a-vis reported PAT of corresponding quarter of the previous year at Rs 2,552 crore," the company said in a regulatory filing.The industrial conglomerate's revenue from operations during the period under review, fell by 12.15 per cent to Rs 31,034.74 crore.
--IANS rrb/sn/vd