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Larsen & Toubro reports 12% increase in sales, 30% in profit

Larsen & Toubro recorded revenue of Rs 36,828 crore for the final quarter of the financial year, recording an increase of 12% on a y-o-y basis.

The overall PAT for the quarter January to March 2017 stood at Rs 3,025 crore higher by 29.5%, as compared to Rs 2,335 crore recorded for the corresponding quarter of the previous year.

The order intake for the quarter ended March 31, 2017 at Rs 47,289 crore grew by 9.6% y-o-y. International order inflow during the quarter at Rs 9,044 crore constituted 19% of the order inflow for the quarter.

Consolidated Order Book of the group stood at a robust level of Rs 261,341 crore as at March 31, 2017, higher by 5% on a y-o-y basis. International Order Book constituted 27% of the total Order Book.

FULL YEAR

For the full-year, revenue was at Rs 110,011 crore for the year ended March 31, 2017, registering a y-o-y increase of 8%.

The International revenue during the year at Rs 37,653 crore constituted 34% of the total revenue.

The Consolidated Gross Revenue in the quarter January to March 2017 totalled

The Company successfully won fresh orders worth Rs 142,995 crore at the group level during the year ended March 31, 2017 in the face of a challenging business environment. The International orders during the year at Rs 41,507 crore constituted 29% of the total order inflow.

Order wins in Infrastructure segment, Hydrocarbon and Heavy Engineering segments contributed to the orderflow during the year.

Consolidated Profit After Tax (PAT) for the year ended March 31, 2017 at Rs 6,041 crore was higher by 43% y-o-y.

The Board of Directors has recommended for the approval of shareholders, the issue of one bonus equity share of Rs 2 each for every two equity shares of Rs 2 each held.

The Board of Directors has recommended a dividend of Rs 21.00 per equity share on the pre-bonus share capital.

OUTLOOK

“Economic recovery in the country is expected to steadily improve in the current year backed by structural reforms and overcoming the short term effects of demonetization that happened last year,” the company said.

“Implementation of GST is expected to have far reaching effects by bringing large parts of the informal economy into the formal system where compliance and accountability standards are of a higher order,” it added.

“The government’s thrust on key infrastructure sectors such as transportation, power, affordable housing, smart cities will be strong driver for stable economic growth. Supportive monetary policy aided by normal monsoon and contained inflation will provide the requisite stimulus.

“The outlook for Asia and Pacific region is encouraging with China & Japan expecting a healthy domestic demand in the near-term. Global growth could get a boost from economic stimulus in some large economies, particularly the United States,” it added.

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