L&T Q4 Net Profit Falls 6.5%; Announces Rs 8/Share Dividend

On Friday, engineering and construction major Larsen & Toubro (L&T) reported a 6.5 percent decline in consolidated profit at Rs 3,197 crore for the quarter ended March 2020 when compared to Rs 3,418.24 crore in the same period of the previous year.

However, its consolidated revenue from operations rose by 2.2 percent on a year-on-year basis to Rs 44,245.28 crore in the last quarter of 2019-20 despite challenges faced by economic volatility and a work-from-home / lockdown environment in the last fortnight of the financial year, L&T said in its BSE filing.

The company's order inflow for the March quarter stood at Rs 57,785 crore, a growth of 5 percent over the corresponding period of the previous year, with significant orders received in the infrastructure segment. The consolidated order book of the group was at Rs 3.03 lakh as of March 2020, a 4 percent growth year-on-year. "International orders constituted 25 percent of the total order book," it said.

The company's board has recommended a final dividend of Rs 8 per share.

Shares of L&T were close 2.6 percent higher on Friday, ahead of the results. Additionally, on the same morning, the company announced that it has secured a large contract from the government of Telangana for an irrigation project. Without disclosing the exact contract value it classified that contract as a 'large' one ranging between Rs 2,500 to Rs 5,000 crore.