L&T Secures Major Orders for Grid Enhancements

On July 29, 2024, Larsen and Toubro Ltd announced via a stock exchange filing that its Power Transmission & Distribution (PT&D) division has secured new orders to build substations and transmission lines in India, Saudi Arabia, and the UAE. These projects are vital for enhancing the global electricity network, supporting the shift to clean energy, and ensuring a reliable power supply.

In India, Power Transmission & Distribution will execute 2 765kV double-circuit transmission line projects to transport power from the Jaisalmer/Barmer Renewable Energy Zone in Rajasthan to substations in Madhya Pradesh.

In Saudi Arabia, PT&D has won contracts to strengthen the 380kV network in the central region by constructing a 380kV substation and overhead line segments. In the UAE, PT&D will build a 220kV substation and three 132kV substations to meet the growing electricity demand in Dubai and Abu Dhabi.

Financial Highlights

Engineering giant Larsen & Toubro (L&T) saw its net profit increase by 11.7% for the June quarter (Q1FY25), thanks to higher revenue and improved order execution. The company’s consolidated net profit for the quarter was ₹2,786 crore, while revenue grew 15.1% to ₹55,210 crore compared to the same period last year.

By June 2024, the company’s order book stood at ₹4.90 trillion, with 38% from international markets. New orders totalled ₹70,936 crore, an 8% increase year-on-year, driven mainly by contracts in West Asia. International orders accounted for ₹32,598 crore, or 46% of the total order inflow. Domestic order growth was modest at 1% year-on-year, which was anticipated due to the Lok Sabha elections.

About Larsen and Toubro Ltd

Larsen & Toubro (L&T) is a major Indian multinational company founded in Mumbai in 1946 by Danish engineers Henning Holck-Larsen and Soren Kristian Toubro. It has become one of the top engineering, technology, and construction firms globally. L&T’s headquarters are in Mumbai, India.

As of March 31, 2022, L&T has a broad and diverse structure with 93 subsidiaries, each specialising in different areas like engineering, construction, manufacturing, IT, and financial services.

On July 29, 2024, Larsen and Toubro Ltd’s share price opened at ₹3,701.00, touching the high of ₹3,775.00 as of 10:20 AM on the NSE.

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