Larsen and Toubro (L&T), on 16 January, announced its quarterly report for October-December.

The company clocked a 13% year-on-year increase in consolidated net profit to Rs 336.2 crore during the quarter from Rs 303 crore it reported in the same quarter last year.

The consolidated revenue during the quarter stood at Rs 2,422 crore, marking a 12% YoY increase from Rs 2,049 crore reported in the same quarter of the previous fiscal year.

The company’s earnings before interest and taxes (EBIT) stood at Rs 416 crore, while the EBIT margin came at 17.2%.

Amit Chadha, CEO and managing director of L&T Tech, said, “We have made notable progress in each of our new-technology focus areas – AI, software defined vehicles (SDV) and cybersecurity. In AI, we filed 53 patents across segments like transportation, medical and industrial products.”

Chadha said, “We had our first major win in SDV with a US OEM to define the architecture of their next generation automobiles. And continuing our SWC leveraged global deal wins, we won a $10M plus deal in cybersecurity.”

All 5 segments of the company grew positively for the second quarter in a row, showing q% sequential growth despite the seasonal softness.