L&T Q4 profit rises 8% YoY to Rs 3,418 crore, meets Street estimates

Engineering and construction major Larsen & Toubro on Friday reported a 7.91 per cent year-on-year rise in profit (attributable to owners) at Rs 3,418.24 crore for the quarter ended March 31. Analysts in an ET NOW poll had projected a profit of Rs 3,414 crore.

The company had posted a net of Rs 3,167.47 crore in the corresponding quarter last year.

Consolidated revenue from operations increased 10.46 per cent YoY to Rs 44,933.96 crore from Rs 40,678.10 crore. Margins stood at 12.50 per cent against 13.30 per cent in the year-ago period.

The board of directors recommended a final dividend of Rs 18 per equity share on a face value of Rs 2 each.

Consolidated order book of the group stood at Rs 2,93,427 crore as of March 31, with international orders constituting 22 per cent of the total book.

Profit after tax for the year ended March 31 came in at Rs 8,905 crore, a growth of 21 per cent.

The order intake in Q4FY19 stood at Rs 56,538 crore, up 14 per cent on a yearly basis. International order inflow was Rs 17,680 crore, constituting 31 per cent of the order inflow for the quarter.

Infrastructure segment witnessed an order inflow of Rs 31,033 crore, down 8 per cent YoY.

“The quarter witnessed delays in order awards of select prospects mainly in transportation infrastructure, heavy civil infrastructure and metallurgical and material handling business,” L&T said in a regulatory filing.

According to L&T it is well positioned to take advantage of business opportunities, both present and emerging.

“The company continues to focus on profitable execution of its robust order book, positioning well for emerging opportunities and is confident of pursuing its growth plans, with the aim of maximising shareholder returns (RoE) on a sustainable basis,” it added.