MUMBAI: Larsen & Toubro’s (L&T) net profit for the January-March quarter of financial year 2018-19 rose 8 per cent on year to Rs 3,418 crore, and for the full fiscal, the consolidated net profit was up 21 per cent at Rs 8,905 crore.
Gross revenue for the fourth quarter of FY19 rose 10 per cent on year at Rs 44,934 crore and the full year revenues grew 18 per cent to Rs 1.41 lakh crore.
The company’s board on Friday recommended a dividend of Rs 18 per share.
Despite challenging business conditions, the order book has grown 14 per cent YoY to Rs 56,538 crore in the March quarter, and the international order book was higher at 31 per cent of the order inflow during the quarter, L&T said. “Domestic orders have been a little disappointing, but (it was) more than made up by the international orders,” said R Shankar Raman, whole-time director and chief financial officer of the company.
Private sector orders are beginning to look up, Raman said. The airport orders added to the private sector capex moving up, as also some commercial real estate, he said. Continued leverage seen in many balance sheets, buying of assets through NCLT process, have all slowed down private capex and private sector will have to have strong business case to make an investment, Raman said.
For the full fiscal, L&T had an order inflow of Rs 1.76 lakh crore, up 16 per cent.