Medicine

L&T Hydrocarbon Engineering bags Rs 1267-crore order from ONGC

L&T Hydrocarbon Engineering bags Rs 1267-crore order from ONGC

Meanwhile, the S&P BSE Sensex was up 52.42 points or 0.16% at 33,366.98. It has touched an intraday high of Rs 1,240.00 and an intraday low of Rs 1,210.05. The current market cap of the company is Rs 177,036 Cr. Face value per share is Rs 2.

Profit rose to ₹1,820 crore in Q2 FY18, against ₹1,435 crore in the same period past year, while the company's revenue for the quarter rose 6 per cent to ₹26,447 crore. The heavy civil infrastructure business has won orders worth Rs 1906 crore, which includes major government order of Rs 1825 crore in JV with global partner.

Worldwide revenue in the quarter at Rs. 9,517 crore constituted 36% of total revenues.

The company had on Saturday reported 26.2 per cent rise in net profit for the second quarter, beating analysts' estimates.

On the outlook, L&T said the government's determined efforts to revive the investment sentiment while undertaking impactful economic reforms have expectedly caused transition challenges.

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L&T secured orders worth Rs. 28,732 crore in the quarter amid a subdued business environment, policy uncertainties and delayed implementation.

But, he further said total order inflows may be the same as previous year or may be a bit above. Focus for the company continues to remain on improvement of return on equity through reduction of working capital and higher operational efficiencies, it added.

L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Mumbai-based engineering giant Larsen and Tubro (L&T), announced it has bagged an offshore contract from Oil and Natural Gas Corporation (ONGC) valued at Rs 1,276 crore.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.


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