Infra pushes L&T to pole position

Improvement in capital cycle, especially in the construction and infra sector, pushed the consolidated profit of Larsen and Toubro Ltd (L&T) by 46% as its profit increased from Rs.610 crore in Q1 FY-17 to Rs.893 crore for the quarter ended June 30, 2017. The construction and engineering giant’s gross revenue has increased by 10% to Rs.23,990 crore compared to the same quarter of the previous year. However, there was substantial decline in order inflow- by 11% to Rs.26,350 crore in the reported quarter against Rs.29,700 crore a year ago.“This doesn’t happen every quarter,” says new MD, SN Suramanyan, who has recently taken charge as the CEO and Managing Director. He added that during this quarter, the company has performed excellently well in the infrastructure sector and the emerging situation in the sector is expected to be much better.