By P.R. Venkat

Larsen & Toubro Ltd.'s second-quarter net profit fell 45% from a year earlier, as the Covid-19 pandemic continued to have an impact on the group's performance, especially on its financial services business.

Net profit for the July-September quarter came in at 14.10 billion Indian rupees ($190.1 million), while revenue was down 12% at INR310.35 billion, L&T said late Wednesday.

The company said the Indian economy is seeing early signs of revival and if the current moderation of new Covid-19 cases is sustained, the recovery could gather pace.

"The company continues to focus on profitable execution of its large order book, improve its operational efficiencies, unlock capital, maintain liquidity focus and exercise strong cost control measures," L&T said.

As of end-September, the company's consolidated order book stood at INR2.99 trillion.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

10-28-20 2347ET