Larsen & Toubro Ltd (L&T), on Friday, reported 69 per cent increase in net profit at Rs.2,723 crore for the fourth quarter ended March 31, 2014, against Rs.1,610 crore in the same period last year.
During the period, the company’s net sales income grew 11 per cent to Rs.20,079 crore from Rs.18,075 crore in the same period last year.
For the financial year ended March 31, 2014, the company’s net profit grew 25 per cent to Rs.5,493 crore from Rs.4,384 crore in the previous year. During the period the company’s net sales income increased by 10 per cent to Rs.56,598 crore from Rs.51,611 crore in the previous year.
The results for the quarter and the year ended March 31, 2014, exclude the performance of the hydrocarbon business segment, which has been transferred with effect from April 1, 2013, to L&T Hydrocarbon Engineering, L&T’s wholly-owned subsidiary.
Rs. 14.25 dividend
The board of directors of the company has recommended a dividend of Rs.14.25 per equity share.
“We have got over the storm and good days are ahead. You will see better performance this year. We need to gear up for execution. For the year 2013-14, we lived up to our guidance of 20 per cent increase in order book and 15 per cent revenue growth,” said A. M. Naik, Executive Chairman, L&T.
“The new government has just taken over. We are not able to see the impact yet. It is likely that struck infrastructure projects will hopefully begin to move and we can see the impact by October this year,” Mr. Naik said.
The company successfully secured fresh orders worth Rs.94,108 crore during the year ended March 31, 2014, registering a significant year-on-year growth of 15 per cent, on a large base despite a sluggish economic environment during 2013-14.
The consolidated group revenue at Rs.85,889 crore for the year registered a growth of 14 per cent over Rs.75,195 crore recorded in the previous year. The consolidated group profit stood at Rs.4,902 crore, recording a year-on-year decline of 6 per cent.