L&T Q4FY23 PAT up 10.1% at Rs3,987 crore on EBITDA boost from energy and BFSI verticals
L&T reported 10.4% growth in total revenues for the March 2023 quarter on consolidated basis at Rs58,335cr. On a sequential basis, the revenues were up 25.75%. In terms of verticals, the largest infrastructure space saw marginal growth in top line. However, energy and IT saw good traction in revenues for the quarter. In terms of operating profit contribution, the infrastructure vertical saw lower operating profits but that was made by growth in EBITDA in energy and in the BFSI vertical.
Order inflows crossed Rs2 trillion in FY23 for L&T, that is 19% higher yoy. FY23 PAT crossed Rs10,000 crore which is 21% higher yoy. The board has recommended a final dividend of Rs24 per share. For the fourth quarter, order inflows stood at Rs76,099 crore with international orders constituting nearly 47% of the order flows in Q4FY23. For FY23, infrastructure order inflows at Rs1.17 trillion was above 50% of total order flows.
Financial highlights for Mar-23 compared yoy and sequentially
| Larsen & Toubro | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
| Total Income (Rs cr) | ₹ 58,335 | ₹ 52,851 | 10.38% | ₹ 46,390 | 25.75% |
| Operating Profit (Rs cr) | ₹ 6,514 | ₹ 5,991 | 8.73% | ₹ 4,643 | 40.29% |
| Net Profit (Rs cr) | ₹ 3,987 | ₹ 3,621 | 10.11% | ₹ 2,553 | 56.17% |
|
|
|
|
| |
| Diluted EPS (Rs) | ₹ 28.35 | ₹ 25.75 |
| ₹ 18.15 |
|
| OPM | 11.17% | 11.34% |
| 10.01% |
|
| Net Margins | 6.83% | 6.85% |
| 5.50% |
|
The operating profits growth was tepid due to pressure on the infrastructure space and tepid operating profit growth from the IT space due to pricing and top line pressures. However, energy vertical and the BFSI vertical made up for it. OPM was marginally lower at 11.17% for the quarter while PAT margins were flat yoy.