L&T Q2 Results: Profit Rises 33% to ₹5,202 Crore on Record Orders

Larsen & Toubro’s consolidated net profit rose 33% to ₹5,202 crore in the September quarter, as L&T Q2 results showed a record quarterly order inflow of ₹1,47,665 crore.

Revenue from operations grew 16% year on year to ₹78,750 crore, compared with ₹67,984 crore a year earlier. Net profit in the same quarter last year was ₹3,926 crore. The engineering and construction major announced the numbers for the quarter ended 30 September 2026 on 27 October.

Operating performance was more subdued. EBITDA was broadly flat at about ₹6,840 crore against roughly ₹6,810 crore a year ago, and the EBITDA margin narrowed to 8.7% from 10%, Business Today reported.

The company linked the margin squeeze to lower margins across its portfolio and a revenue mix tilted towards manufacturing-related businesses. Other income rose to ₹2,310 crore from ₹1,380 crore, helped by higher surplus funds, better yields and a one-time gain from L&T Technology Services’ divestment of its SWC business.

L&T Q2 results: record order inflow and order book

Orders were the standout. Inflow for the quarter rose 28% year on year to ₹1,47,665 crore, with international orders of ₹92,375 crore making up 63% of the total. Major wins came from the hydrocarbon, CarbonLite Solutions, public spaces and airports, and power transmission and distribution businesses.

For the first half of FY27, L&T order inflow grew 22% to ₹2,55,678 crore, of which international orders accounted for ₹1,53,077 crore, or 60%. Hydrocarbon, offshore wind, minerals and metals, and residential and commercial buildings drove the half-year tally, according to reports.

The consolidated L&T order book stood at ₹8,53,514 crore on 30 September 2026, up 15% from March 2026. International projects make up 54% of it. International revenue for the quarter was ₹45,870 crore, or 58% of the total.

“We achieved yet another record quarterly order inflow,” Chairman and Managing Director S. N. Subrahmanyan said. He added that the order book, the highest in the company’s history, gives L&T multi-year revenue visibility, and credited focused execution across its projects, products and manufacturing portfolio for the faster revenue growth.

Shares rally as investors look past margins

Investors welcomed the numbers. L&T shares opened at ₹3,813.95 on 28 October and touched an intraday high of ₹3,892, up 6.05% from the previous close of ₹3,670, according to Business Today. Brokerage Motilal Oswal kept its Buy rating on the stock with a target price of ₹4,400, TradingView reported.

L&T is India’s largest engineering and construction conglomerate, with businesses that span infrastructure, hydrocarbon and power projects, heavy manufacturing and technology services. In the June quarter, it reported a 14% rise in net profit to ₹4,123 crore.

Why L&T Q2 results matter for investors

The L&T Q2 results send two signals to business leaders and investors. The first is demand: a record order book points to a steady pipeline of large projects, with most of the fresh orders coming from overseas markets.

The second is profitability. With EBITDA almost flat despite 16% revenue growth, a large part of the jump in Larsen & Toubro net profit came from other income, including a one-off gain, rather than from core operations. That makes execution and project margins the main things to watch in the coming quarters.

L&T is widely tracked as a proxy for India’s capital expenditure cycle, so its order pipeline also matters for investors in capital goods, cement and the banks that finance large projects.

What happens next

The focus now shifts to how quickly L&T converts its order book into revenue in the second half of FY27, and whether margins recover from 8.7%. Reported coverage of the results did not include any fresh guidance from the company.

The numbers add to a busy Q2 earnings season for Indian companies, which has already seen Infosys cut its FY27 growth guidance. Full details of L&T’s results were reported by Business Today.

EDITOR NOTES — REMOVE BEFORE PUBLISHING

Region: India
Meta title (58 chars): L&T Q2 Results: Profit Up 33%, Record ₹1.48 Lakh Cr Orders
Meta description (153 chars): L&T Q2 results: consolidated net profit rose 33% to ₹5,202 crore as order inflow hit a record ₹1,47,665 crore and the order book reached ₹8.5 lakh crore.
Focus keyword: L&T Q2 results
Secondary keywords: L&T order inflow, L&T order book, Larsen & Toubro net profit
Slug: lt-q2-results-record-order-inflow
Tags: Larsen & Toubro, S. N. Subrahmanyan, India, Infrastructure, Quarterly Results
Category: News, Business
Schema: NewsArticle (Rank Math)
Internal links used: /category/news/, /business/infosys-q2-results-guidance-cut/
Featured image: to be added by editor
Note: Phrasly humanisation not run (Phrasly required a human verification check; scheduled run unattended). Fact & grammar check done — 3 corrections. Flags: (1) L&T’s own press release/BSE-NSE filing could not be accessed — all figures from Business Today and APAC News Network; verify against the exchange filing before publishing. (2) EBITDA conflict: ₹6,840 cr vs ₹6,810 cr (Business Today) vs ₹6,845 cr vs ₹6,806 cr (APAC) — article uses “about/roughly”. (3) One broker blog gives Q2 FY26 profit as ₹4,687 cr (likely total PAT incl. minorities); article uses ₹3,926 cr per Business Today/APAC. (4) Size of the one-time LTTS SWC divestment gain not disclosed in sources. (5) Motilal Oswal target (₹4,400) and Q1 FY27 profit (₹4,123 cr, +14%) taken from secondary reports/search snippets. (6) Paragraph on L&T as a capex-cycle proxy is desk analysis.

Sources (fact-check):

• https://www.businesstoday.in/markets/stocks/story/lt-shares-surge-6-as-q2-net-profit-rises-33-to-rs-5202-crore-564151-2026-10-28
• https://apacnewsnetwork.com/2026/10/lt-q2-results-fy27-profit-rises-33-percent/
• https://www.tradingview.com/news/moodys:9044233a27acd:0-l-t-share-price-jumps-6-after-strong-q2-results-2026-should-you-buy-sell-or-hold-check-target-upside/
• https://www.kotakneo.com/news/stocks/lt-q1-fy27-results-pat-rises-14-order-inflow-rs-1-08-lakh-crore/ (Q1 figure, search snippet)