An Indian multinational conglomerate, Larsen & Toubro (L&T) increased its workforce by 10 percent last year and plans to expand it by another 10 percent next year.
Larsen & Toubro has achieved Consolidated Revenues of ₹ 55,128 crore for the quarter ended December 31, 2023, recording a y-o-y growth of 19%, aided by a ramp-up in the execution of the strong order book in the Projects and Manufacturing portfolio.
For the nine months ended December 31, 2023, the Consolidated Revenues at ₹ 154,034 crore recorded a y-o-y growth of 23% with international revenues during the nine months at ₹ 65,220 crore constituting 42% of the total.
The Company for the third quarter, reported a Consolidated Profit after Tax (PAT) of ₹ 2,947 crores, registering a growth of 15% compared to the corresponding quarter of the previous year. Further, when compared to the recurring profit of the corresponding quarter of the previous year, Profit after Tax registered an impressive growth of 20%.
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In an interview with Money Control, L&T Chief Financial Officer (CFO), R Shankar Raman said, “Between December 2022 and 2023, we added about 10-11 percent to the workforce in the main engineering.”
“Going forward, I think the number will not be substantially higher. It will be driven by what happens on the attrition (front) because of talent competition. But largely, it will be around the 10 percent level,” R Shankar Raman added.
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