Larsen & Toubro (L&T) reported a 10 per cent jump in consolidated net profit for the quarter ended on March 31, 2024. The company clocked profit of ₹4,396 crore as against ₹3,986 crore registered in the same quarter last year. 

Sequentially, there was a 49.16 per cent increase in profit with ₹2,947 crore reported in December. 

 Total revenue from operations grew 15 per cent to ₹58,335 crore in March (₹58,335 crore). Revenue from operations increased 21.67 per cent with ₹55,127 crore in December. 

The board of directors recommended a final dividend of ₹28 per share for the financial year 2023-24 in addition to the special dividend of ₹6 per share paid in August 2023. 

“The year has concluded on a very strong note for us. We have secured order inflows of more than ₹ 3-lakh crore and order book is around ₹4.75-lakh crore. During the year, we successfully completed the maiden buyback of equity shares, in line with our aim to improve shareholder value. In line with our Lakshya 2026 plan to divest from non-core businesses, we concluded the sale of our stake in L&T IDPL. The tailwinds of India’s economic growth will continue due to the impact of structural reforms, strengthening physical and digital infrastructure, improving institutional strength and strong governance,” said SN Subrahmanyan, MD & CEO, L&T. 

Order book

The consolidated order book is at ₹4,75,809 crore as of March 31, 2024, registering a growth of 20 per cent over the previous year with the international orders having a share of 38 per cent. 

The loan book was at ₹85,565 crore in March 2024 (₹80,893 crore). 

The growth driven by infrastructure witnessed an order inflow of ₹1,42,589 crore, a growth of 22 per cent year-on-year during the year ended March 31, 2024. However, the segment secured orders of ₹31,340 crore in the March quarter, registering a degrowth of 24 per cent over the corresponding quarter of the previous year.

 The energy segment also reported an increase in order inflow of 48 per cent y-o-y to ₹13,120 crore. 

“We took FY24 as nine months, as we had a sense that the period between January and March will be slower due to Elections. 75 per cent of the FY24 orders we did were by December. The order inflow in Q1 and Q2 of FY25 will be muted, we will be focusing on the restructuring of the Hyderabad metro and plan to complete the Ram Mandir construction by 2025, our part of the Coastal abroad by the end of calendar year 2025 and the bullet train works by FY27,” said R Shankar Raman, Chief Financial Officer, L&T. 

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