Larsen & Toubro (L&T) on Monday reported a 24.2 per cent rise in consolidated net profit at Rs 2,552.92 crore in the quarter ended December 31 on the back of higher revenue from operations.

The company had posted a consolidated net profit of Rs 2,054.74 crore in the year-ago period, L&T said in a regulatory filing.

The consolidated revenue from operations of the company in the October-December period increased to Rs 46,389.72 crore, against Rs 39,562.92 crore in the year-ago period.

“Larsen & Toubro achieved consolidated revenues of Rs 46,390 crore for the quarter ended December 31, 2022 recording a Y-o-Y growth of 17 per cent, aided by improved execution in the infrastructure projects segment and continued growth momentum in the information and technology and technology services (IT&TS) portfolio,” the company said.

Exide PAT up 9%

Exide Industries on Monday reported a 9.31 per cent growth in profit after tax for the quarter ended December 31 amid the easing of raw material prices. The net profit of the automotive and industrial battery major during the quarter was Rs 223 crore compared with Rs 204 crore in the corresponding previous quarter.

Revenue from operations during the quarter was Rs 3,405 crore, up 7 per cent from Rs 3,197 crore in Q3FY22. “Our operating profit margin increased quarter on quarter in Q3FY23 as raw material price inflation eased.

Our overall sales growth was 7 per cent for the quarter driven by volume growth in most verticals.

“In the coming months, we expect the demand scenario to be positive for both automotive and industrial verticals,” said Subir Chakraborty, MD and CEO, Exide Industries.

Bajaj Finserv

Bajaj Finserv, holding company of the Bajaj group’s financial services businesses, on Monday reported a 42 percent growth in consolidated net profit at Rs 1,782 crore in the quarter ended December on high double-digits revenue growth.

The Pune-based company, which is into retail lending, life and general insurance, and wealth management, among others, said its consolidated revenue grew 23 per cent to Rs 21,755 crore during the reporting quarter.

GAIL net falls

State gas utility GAIL (India) Ltd on Monday reported a 90per cent decline in its December quarter net profit after suffering losses in petrochemical and natural gas marketing business.

Its consolidated net profit of Rs 397.59 crore in October-December 2022 is compared with Rs 3,800.09 crore earning in the same period a year ago, according to the company’s stock exchange filing.

With inputs from PTI