L&T Misses Q3 Earnings View But New Orders Jump to Record

Larsen & Toubro (L&T), on Thursday, reported a profit that fell short of market estimates in a seasonally weak quarter but said its orders hit a record high due to strength in its international business, while the domestic economy slowed.

- Reuters

L&T, considered a bellwether for India's infrastructure spending due to the scale and breadth of the orders, said its orders jumped 53% to an all-time high of ₹1.16 lakh crore ($13.39 billion), with more than half coming from outside India.

In the previous three months, its orders had declined by 10% while in the year-ago quarter, they were up by 25%.