L&T Q4 net profit up 4.72% to Rs 3,167 cr

Engineering firm Larsen & Toubro (L&T) today reported a 4.72 per cent rise in consolidated net profit to Rs 3,167.47 crore in the March quarter on the back of improvement in project execution.

It had clocked a net profit of Rs 3,024.61 crore in the same quarter last year.

Gross revenue increased by 10.45 per cent to Rs 40,678.1 crore, compared with Rs 36,827.99 crore.

For financial year 2017-18, the company's net profit rose by 22 per cent to Rs 7,369.86 crore, from Rs 6,041.23 in the previous year. Its total revenues grew by 9.5 per cent to Rs 1,19,862.10 crore, from Rs 1,10,011 crore.

"For the current fiscal year, we think the order inflow should be 10-12 per cent higher than FY18 and the revenues given the execution challenges should be between 12-15 per cent in terms of growth," L&T's group chief financial officer R Shankar Raman told reporters here.

On the performance of the company, he said, "It has been a satisfactory year mainly in the context of the environment that we have been in where the company is caught in the cross currents between the headwinds and the tailwinds blowing at the same time."