Larsen & Toubro Ltd. Q3 FY2026 results: revenue ₹71,450 crore, up 10.5% on the year
Larsen & Toubro Ltd. (LT) reported consolidated revenue from operations of ₹71,450 crore for Q3 FY2026, the quarter ended 31 December 2025, up 10.5% on the same quarter a year earlier. Profit after tax was ₹3,825 crore, down 3.8% on the year, and earnings per share ₹23.37. The figures are the company's own, from the un-audited results it filed with NSE on 28 January 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 71,450 | 67,984 | 64,668 | +10.5% |
| Other income | 1,441 | 1,384 | 968 | +48.9% |
| Total income | 72,891 | 69,368 | 65,636 | +11.1% |
| Cost of materials consumed | 24,451 | 24,593 | 23,622 | +3.5% |
| Purchases of stock-in-trade | 298 | 302 | 456 | -34.5% |
| Changes in inventories | -11 | -169 | -21 | n/a |
| Employee benefit expense | 12,800 | 12,986 | 11,912 | +7.5% |
| Finance costs | 625 | 763 | 843 | -25.8% |
| Depreciation, depletion and amortisation | 1,072 | 1,092 | 1,047 | +2.4% |
| Other expenses | 26,495 | 23,465 | 22,444 | +18.1% |
| Total expenses | 65,730 | 63,032 | 60,303 | +9.0% |
| Profit before exceptional items and tax | 7,161 | 6,336 | 5,333 | +34.3% |
| Exceptional items | -1,791 | 0 | 0 | n/a |
| Profit before tax | 5,370 | 6,336 | 5,333 | +0.7% |
| Current tax | 1,442 | 1,577 | 1,520 | -5.2% |
| Deferred tax | 99 | 72 | -188 | n/a |
| Total tax | 1,541 | 1,649 | 1,332 | +15.7% |
| Profit after tax | 3,825 | 4,678 | 3,974 | -3.8% |
| Attributable to owners of the parent | 3,215 | 3,926 | 3,359 | -4.3% |
| Other comprehensive income | 648 | -490 | -1,276 | n/a |
| Total comprehensive income | 4,472 | 4,188 | 2,698 | +65.8% |
| EPS, basic | ₹23.37 | ₹28.54 | ₹24.43 | -4.3% |
| EPS, diluted | ₹23.36 | ₹28.53 | ₹24.41 | -4.3% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 1.06 | 1.09 | 0.01 | |
| Debt service coverage | 1.86 | 6.00 | 0.02 | |
| Interest service coverage | 10.65 | 7.96 | 0.06 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Infrastructure Projects | 34,004 | 47.1% | 1,695 | 5.0% |
| Energy Projects | 12,730 | 17.6% | 677 | 5.3% |
| Hi-Tech Manufacturing | 3,382 | 4.7% | 536 | 15.8% |
| IT & Technology Services | 13,676 | 18.9% | 2,216 | 16.2% |
| Financial Services | 4,477 | 6.2% | 1,021 | 22.8% |
| Development Projects | 1,161 | 1.6% | 159 | 13.7% |
| Others | 2,822 | 3.9% | 818 | 29.0% |
| Add: Exceptional items (before tax) | 0 | n/a | -1,791 | n/a |
| Less: Inter-segment assets | 0 | n/a | 0 | n/a |
| Less: Inter-segment liabilities | 0 | n/a | 0 | n/a |
| Less: Inter-segment margins on capital jobs | 0 | n/a | -17 | n/a |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 51,024 | 55,128 | 67,079 | 55,120 | 61,555 | 64,668 | 74,392 | 63,679 | 67,984 | 71,450 | 82,762 | 67,942 |
| Expenses | 47,166 | 51,194 | 61,792 | 51,364 | 57,101 | 60,303 | 67,988 | 59,176 | 63,032 | 65,730 | 75,999 | 63,396 |
| Operating profit | 5,632 | 5,759 | 7,234 | 5,615 | 6,362 | 6,255 | 8,203 | 6,318 | 6,806 | 7,417 | 8,610 | 6,116 |
| OPM % | 11% | 10% | 11% | 10% | 10% | 10% | 11% | 10% | 10% | 10% | 10% | 9% |
| Other income | 1,133 | 838 | 1,042 | 921 | 1,101 | 968 | 1,135 | 1,357 | 1,384 | 1,441 | 1,579 | 2,377 |
| Interest | 864 | 904 | 926 | 861 | 884 | 843 | 746 | 782 | 763 | 625 | 679 | 539 |
| Depreciation | 910 | 921 | 1,021 | 998 | 1,024 | 1,047 | 1,052 | 1,033 | 1,092 | 1,072 | 1,168 | 1,032 |
| Exceptional items | 0 | 0 | 94 | 0 | 0 | 0 | 475 | 0 | 0 | -1,791 | 69 | 0 |
| Profit before tax | 4,991 | 4,772 | 6,422 | 4,677 | 5,555 | 5,333 | 8,014 | 5,860 | 6,336 | 5,370 | 8,410 | 6,922 |
| Tax % | 23% | 25% | 22% | 26% | 26% | 25% | 23% | 26% | 26% | 29% | 25% | 28% |
| Net profit | 3,846 | 3,593 | 5,013 | 3,445 | 4,099 | 3,974 | 6,156 | 4,318 | 4,678 | 3,825 | 6,133 | 4,988 |
| EPS in ₹ | ₹22.94 | ₹21.44 | ₹31.98 | ₹20.26 | ₹24.69 | ₹24.43 | ₹39.98 | ₹26.30 | ₹28.54 | ₹23.37 | ₹38.71 | ₹29.97 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 28 January 2026: the result statement. All of Larsen & Toubro Ltd.'s results: NSE company page.
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