L&T Q1FY21 results; consolidated profit falls by 68 per cent yoy to Rs 536.88 crore

Larsen & Toubro Limited (L&T), a major technology, engineering, construction, manufacturing and financial services conglomerate announced its quarterly results on July 22, 2020. The company posted a consolidated net profit of Rs 536.88 crore for Q1FY21, which declined by 68.37 per cent, as compared to Q1FY20 when it reported Rs 1,697.62 crore.                                                                                                                                                             

The consolidated net sales reported in Q1FY21 came in at Rs 21,259.97 crore, which declined by 28.26 per cent YoY from Rs 29,635.95 crore in Q1FY20. At EBITDA level, the company stood at Rs 1,620.47 crore in Q1FY21 that decreased by 47.19 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 3,068.35 crore.                                                                                                                                                  

EBITDA margin as of Q1FY21 was at 7.62 per cent that declined by 2.73 per cent YoY. The net profit margin in Q1FY21 came in at 2.53 per cent, which declined by 320 per cent YoY. The net profit margin in Q1FY20 was at 5.73 per cent.                                                                                                                     

The stock closed in the red at Rs 920.95 with a decline of 1.8 per cent on BSE.