L&T consol Q3 PAT down 17% YoY at Rs 2,055 cr on input cost spike

Topline up 11% at Rs 39,563 crore, with infra segment contributing the highest followed by IT & Tech Services and hydrocarbon business

The country’s largest infrastructure company, Larsen & Toubro (L&T), reported a 17 per cent decline in consolidated net profit for the December quarter (Q3) as high raw material costs ate into the bottom line even as net sales rose.

At Rs 2,055 crore, net profit was down year-on-year (YoY), while top line grew 11 per cent YoY to Rs 39,563 crore, with the infrastructure segment contributing the highest followed by IT & technology services and the hydrocarbon business.

These were lower than Bloomberg’s estimate of Rs 2,392 crore and Rs 39,732 crore for net profit and sales, respectively.

The company witnessed recurring profit