By IDI

Larsen & Toubro recorded Consolidated Gross Revenue of ₹ 36,243 crore from continuing operations for the quarter ended December 31, 2019, achieving year-on-year growth of six per cent. The International revenue during the quarter at ₹ 12,871 crore constituted 36 per cent of the total revenue.

Defence Engineering Segment received orders of ₹ 168 crore during the quarter ended December 31, 2019, representing a decline of 66 per cent over the corresponding quarter of the previous year. International orders constituted 45 per cent of the total order inflow of the segment. The gap between Government’s aspiration and policy prescriptions, coupled with fund shortage continues to impact the order flows in this sector.

The Order Book of the Segment stood at ₹ 9,666 crore as on December 31, 2019, with the international order book constituting 18per cent of the total.

Defence Engineering Segment recorded customer revenue of ₹ 1,063 crore registering a year-on-year growth of 6per cent over the corresponding quarter of the previous year led by noteworthy progress in execution of a marquee order for tracked artillery guns. International Revenue constituted 9per cent of the total customer revenue of the segment.

The EBITDA (Earnings before interest, tax, depreciation and amortization) margin of the segment at 20.5 percent was higher for the quarter ended December 31, 2019 as compared to corresponding quarter of the previous year at 9.0per cent, with operational efficiencies and better project mix.