L&T Sept quarter net rises 25% to Rs 2,785 crore

MUMBAI: L&T, considered as the bellwether of the country’s infrastructure sector, reported a 25% increase in Q2 profit to Rs 2,785 crore. Five business segments from a total of seven reported higher operating profits led by financial services, IT & technology services and infrastructure projects.

Operating profit of financial services, IT & technology services and infrastructure projects rose 91%, 24% and 10% to Rs 613 crore, Rs 1,893 crore and Rs 1,067 crore, respectively, in Q2 FY23. Operating profit of the other two segments, energy projects and hi-tech manufacturing too increased 23% and 28% to Rs 419 crore and Rs 222 crore, respectively.