L&T consolidated Q3 PAT at Rs 2,467 crore, up 5% YoY on lower expenses

Consolidated Group order book at record high of Rs 331,061 crore as on Dec 31, 2020

Larsen & Toubro (L&T) reported a consolidated net profit of Rs 2,467 crore in the December quarter, up nearly 5 per cent from same period last year as lower expenses lent some support to the bottomline even as revenues were a tad muted.

Higher profit was also attributed to increased profits from IT & TS segment and sale of commercial property in realty. Bottomline also includes gain on divestment of Rs 209 crore from discontinued operations for the quarter ended December, said the company in its release.

The gain of divestment includes sale of the electrical and automation business to