L&T consol PAT rises 10% to Rs 4,396 cr, revenue up 15%

2 mins read . 09 May 2024 . 01:09 PM

Larsen & Toubro (L&T), the engineering conglomerate on Wednesday, reported a 10.3% on-year rise in its consolidated net profit, taking the total count to 4,396.12 crore rupees for the quarter ending March, FY24 against 3,986.78 crore rupees Y-o-Y.  Sequentially, net profit surged 49% in the quarter from 2,947.36 crore rupees.

The conglomerate's on-year revenue from operations rose 15% to 67,078.68 crore rupees from 58,335.15 crore rupees. Sequentially, revenue rose 21.6 per cent from Rs 55,127.82 crore for the quarter ended December. 

Key takeaways from Larsen & Toubro’s performance are:

• Consolidated net profit up 10.3% to 4,396.12 crore rupees
• Revenue up 15% to 67,078.68 crore rupees 
• The company’s year ended on a very strong note
• The Board of Directors (BoD) recommended on final dividend of Rs.28 per share

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The company has secured order inflows of more than 3 trillion rupees and an order book of 4.75 trillion rupees, reflecting continued trust in the company from its esteemed clients, said S N Subrahmanyan, chairman and managing director, commenting on the performance. 

Subrahmanyan added that the year concluded on a positive and strong note, as the company completed the maiden Buyback of Equity Shares, in line with its aim to improve shareholder value.   

The company is also confident about its new-age businesses such as Green Energy, Semiconductor Chip design, Digital Platforms and Data Centers that are likely to harness the power of technology and enable the growth of traditional core businesses, the chairman added.

The Board of Directors of the company has also recommended a Final Dividend of 28 rupees per share of the face value 2 rupees each for the financial year ended March 31, 2024.