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Labour code costs weigh on L&T’s earnings growth
Business Standard
|January 29, 2026
Larsen & Toubro’s (L&T’s) consolidated profit (attributable to owners of the company) for the third quarter of 2025-26 (Q3FY26) declined by 4.28 per cent year-on-year (Yo-Y) to ₹3,215.1 crore, mainly due to a onetime material provision of ₹1,191 crore arising from the implementation of the new labour Codes.
The engineering & construction-to-technology services conglomerate’s recurring profit after tax (PAT) for the quarter stood at ₹4,406 crore, up 31 per cent Yo-Y, driven by higher consolidated revenue.
L&T’s consolidated revenue for Q3FY26 stood at ₹71,449.7 crore, up by 10.49 per cent Yo-Y amid steady execution progress across businesses within the projects & manufacturing (P&M) portfolio. The company, however, missed the Bloomberg analysts’ poll estimates for both revenue (estimate of ₹73,599.1 crore) and profit (estimate of ₹4,494.5 crore).
L&T’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter under review stood at ₹7,417 crore, up 19 percent Yo-Y. Meanwhile, its Ebitda margin stood at 10.4 per cent, compared to the margin of 9.7 per cent in Q3FY25. Among other positives include record high order inflows and order backlog.
Denne historien er fra January 29, 2026-utgaven av Business Standard.
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