L&T Q4 net up by 38%, to issue bonus shares

The board of directors today also announced the issue of bonus equity shares to its shareholders in the ratio of 1:1 (one bonus share of Rs 2 each for every equity share held) along with a final dividend for the year of Rs 17 per share including Rs 2 per share of interim dividend.

Its standalone net profit for the year ended March 31, 2008 grew 54.9 per cent to Rs 2,173.4 crore and its total income grew 40.8 per cent to Rs 25,442.5 crore. The group posted a net profit growth of 3.8 per cent to Rs 2,325.3 crore and total income growth of 42.7 per cent to Rs 29,848.6 crore.

For the group, the engineering and construction segment revenues for the year ended March 31, 2008 grew 44 per cent to Rs 19,377 crore over last year. The segment revenues at for electronics and electricals segment stood at Rs 2,663 crore for the year higher by 29 per cent year-on-year. The growth was due to higher volumes of electrical standard products and systems, control and automation and petrol dispensing pump businesses and price differentials from the market so as to neutralise the adverse impact of rising input costs.

Backed by strong demand from the manufacturing and construction sectors, the machinery and industrial products segment posted gross revenues of Rs 2,411 crore up by 31 per cent over the previous year. Increased activity in the domestic industrial, infrastructure and construction sectors benefited industrial valves, construction equipment and welding systems businesses, said the company. Besides increased volumes, higher price realisation in the domestic market and improved manufacturing efficiencies for machinery businesses contributed to higher profitability of the segment.