L&T Q4 net rises 3% to Rs 3,293 cr, sees Covid impact on Q1 growth momentum

L&T's order inflows during the March quarter stood at Rs 50,651 crore, which is a decline of 12 per cent over the year-ago period

India’s largest engineering and construction (E&C) player Larsen and Toubro (L&T) posted a consolidated net profit of Rs 3,293 crore in the January-March quarter (Q4FY21). This is an increase of 3 per cent from Rs 3,197 crore profit logged in the year-ago period (Q4FY20).

Sequentially, the profit rose 33 per cent from Rs 2,467 crore in the December quarter (Q3FY21). The company's board recommended a final dividend of Rs 18 per share.

L&T's revenue from operations, meanwhile, came in at Rs 48,088 crore for the quarter ended March 31, 2021, up 8.6 per cent from the revenue of Rs 44,245 crore clocked in the same quarter last year. 

The order inflow for the quarter January-March 2021 stood at Rs 50,651 crore, lower by 12 per cent over corresponding period of the previous year with deferment of awards. International orders at Rs 18,439 crore during the quarter contributed to 36 per cent of the total order inflow.

The consolidated order book of the group stood at Rs 327,354 crore as of March 31, 2021, registering a growth of 8 per cent over March 31, 2020.

"The economy which made a resilient comeback during the later part of FY 2020-21, is once again at the crossroads, with the onset of a more ferocious second wave of the Covid-19 pandemic, impacting many states. This is expected to temporarily slow down the growth momentum, especially during the first quarter of FY 2021-22," said the company in a filing.

For the financial year ended March 31, 2021, L&T logged a consolidated Profit After Tax (PAT) including from discontinued operations, at Rs 11,583 crore registering a growth of 21 per cent year-on-year. 

During the March quarter, the infrastructure segment recorded an order inflow of Rs 31,256 crore, a decline of 24 per cent over the corresponding quarter of the previous year. The power and heavy engineering segments recorded order inflows of Rs 792 crore and Rs 1,778 crore respectively in the March quarter.

On Friday, L&T's scrip closed at Rs 1,414.50 apiece, up 2.11 per cent on NSE.