Our Bureau | Mumbai, May 12 |
Company declares dividend of ₹22 per share
L&T, the home-grown infrastructure major, has reported that its net profit in March quarter was up eight per cent at ₹4,138 crore against ₹3,820 crore logged in the same period last year, on higher order execution.
Revenue from operation increased 10 per cent to ₹52,851 crore (₹48,088 crore). Total tax expenses decreased 25 per cent to ₹1,555 crore (₹2,087 crore) boosting the profitability of the company.
The Board of the company has recommended a dividend of ₹22 per share.
The net profit of the company in the financial year ended March was down 19 per cent at ₹10,419 crore (₹12,921 crore) as the profit last year was boosted by sale of non-core asset.
Revenue last fiscal increased 15 per cent to ₹1. 56 lakh crore (₹1.36 lakh crore).
The company bagged orders worth ₹73,941 crore in March quarter, registering a strong growth of 46 per cent over the same quarter of the previous year, with the infrastructure segment booking a mega order from the Middle East. International orders at ₹ 32,241 crore during the quarter comprised 44 per cent of the total order inflow. The consolidated order book of the group was at record levels, at ₹ 357,595 crore as of March-end with 27 per share from international orders.
L&T expects its order inflow to touch ₹8-9 lakh crore by 2026 with infrastructure segment alone accounting for ₹5-6 lakh crore, said Shankar Raman, CFO, L&T.
The company has a debt of ₹1.2 lakh crore with debt of financial services business accounting for ₹80,000 crore, he added
The infrastructure segment secured orders worth ₹45,054 crore in March quarter, registering growth of 44 per cent over the same quarter of the previous year. The hydro carbon sector secured orders valued at ₹7,402 crore in the quarter under review.
The segment recorded customer revenue of ₹29,727 crore in the March quarter ended registering a growth of 13 per cent. The EBITDA margin in the segment was down marginally at 8.2 per cent (8.5 per cent) largely due to unreasonably high commodity prices. The hydrocarbon segment secured orders worth ₹7,402 crore in the March quarter.