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Higher-than-expected sales growth was driven by execution tailwinds in the infrastructure projects segment and sustained growth momentum in the IT and ITeS portfolio.
Raman added that by looking at the strong momentum of order inflow witnessed during the first half of FY24, it is likely that L&T will surpass its guidance for order inflow and revenue for FY24.
The company’s board has approved incorporation of a wholly-owned subsidiary to engage in the business of fabless semiconductor chip design and product ownership with an investment of upto Rs 830 crore.
Capital goods companies are positioned for strong revenue growth in the September quarter
Major companies to announce Q2 results from October 16 to 21 include HDFC Bank, CEAT, Bajaj Finance, Wipro, Hindustan Unilever, Paytm, ICICI Bank, etc.