 "Larsen & Toubro reports 10% surge in Q4 net profit to Rs 3,987 crore")
The country’s biggest infrastructure company, Larsen & Toubro, on Wednesday reported a 10 per cent rise in its consolidated net profit to Rs 3,987 crore for the March quarter (Q4) compared to a profit of Rs 3,621 crore in the year-ago period.
The company reported a 10 per cent year-on-year rise in revenues of Rs 58,335 crore.
The growth on profit was supported by a 43.7 per cent year-on-year surge in other income to Rs 741 crore in the March quarter. Profit before interest, depreciation and taxes (PBIDT) grew in single-digits, by 7.3 per cent, to Rs 9,095 crore compared to Rs 8,474 crore in the year-ago period.
The Q4 numbers, however, were marginally short of expectations. According to Bloomberg poll, analysts were expecting revenues of Rs 58,907 crore and net profit of Rs 4,032 crore for the March quarter. L&T ended 2022-23 with a record high order book of Rs 4 trillion. The company said it received new orders worth Rs 2.3 trillion at the group level during the year ended March 31.
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