Larsen & Toubro Ltd. (L&T) reported Q4 consolidated net profit grew 10% to ₹4,396.12 crore from ₹3,986.78 crore in the year earlier period on account of all round growth achieved by the company, its CFO said on Wednesday.
The firm reported ₹67,078.68 crore in revenue from operations in the quarter ended March, up 15%, over a year earlier.
L&T’s consolidated revenue of₹2,21,113 crore for FY24 was up 21% over the previous year. In an exchange filing, the company attributed the growth to the execution of a large order book in the Projects & Manufacturing businesses.
International revenues at ₹95,086 crore in FY24 constituted 43% of total revenues, largely led by a ramp up in execution of multiple global projects, it added. L&T posted a consolidated FY24 net profit of ₹13,059 crore, up 25%.
Profit After Tax includes an exceptional gain (net of tax) of ₹94 crore, attributed to the divestment of stake in L&T IDPL (L&T Infrastructure Development Projects Ltd.).
The company has given a revenue guidance of 10% rise in FY25 and said considering the Lok Sabha elections this year order momentum would pick up from the second half. The company would also stay away from undertaking small projects that are dependant on funding from Indian commercial banks..
The Board recommended a final dividend of ₹28 per equity share, for the approval of shareholders.
S. N. Subrahmanyan, Chairman and Managing Director in a statement said, “The year has concluded on a very strong note for us. We have secured order Inflows of more than ₹3 lakh crore and our order book is around ₹4.75 lakh crore, reflecting the continued trust reposed on us by all our esteemed clients.”
“We are confident that our new age businesses such as Green Energy, Semiconductor Chip Design, Digital Platforms and Data Centres will harness the power of technology and compliment the growth of our traditional core businesses in accelerating our strides towards our perspective plan targets,” he said.
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