Larsen & Toubro (L&T) posted inline Q3FY26 performance though labour code compliance impacted the profit numbers. Its operating metrics showed improvement and order inflows remained strong across key segments. Management maintained a positive outlook, supported by sustained capital expenditure, policy support, and a continued focus on execution efficiency and international expansion.
Q3 FY25 Financial Performance
Metric
Q3 FY25
YoY Change
Street Estimate
Net Profit
₹3,215 crore
-4.3%
₹4,380 crore
Revenue
₹71,449 crore
+10.5%
₹73,691 crore
EBITDA
₹7,416 crore
+18.6%
Above estimates
EBITDA Margin
10.4%
Up from 9.67%
—
Exceptional Labour Code Impact
₹1,344 crore
One-time
—
Order Inflows and Order Book
Particulars
Value
YoY Change
Q3 Order Inflows
₹1.36 lakh crore
+17%
9M FY25 Order Inflows
₹3.46 lakh crore
+30%
Consolidated Order Book
₹7.33 lakh crore
+30%
International Orders Share
55% of inflows
—
Infrastructure Projects Segment
Metric
Value
YoY Change
Q3 Order Inflows
₹61,876 crore
+26%
International Order Share
55%
—
Segment Order Book
₹4.25 lakh crore
—
Key Areas
Power transmission, renewables, roads, metro
—
Energy Projects Segment
Metric
Value
YoY Change
Q3 Order Inflows
₹46,049 crore
+19%
International Contribution
43% of inflows
—
Segment Order Book
₹2.48 lakh crore
—
Growth Drivers
Hydrocarbons, offshore wind, carbon capture
—
Hi-Tech Manufacturing
Metric
Value
YoY Change
Q3 Order Inflows
₹2,168 crore
-74%
Reason for Decline
High base in precision engineering
—
IT & Technology Services
Metric
Value
YoY Change
Customer Revenues
₹13,526 crore
+12%
International Billing
92%
—
Financial Services
Metric
Value
YoY Change
Income from Operations
₹4,477 crore
+15%
Loan Book
₹1.14 lakh crore
+20%
Retail Loan Share
98%
—
Development Projects
Metric
Value
YoY Change
Customer Revenues
—
-19%
EBIT
₹159 crore
Improved
Key Factors
Lower PLF at Nabha plant, higher Hyderabad Metro fares
