L&T net up 8% at Rs 3,418 cr in Q4; dividend of Rs 18 a share announced

Engineering and construction major Larsen & Toubro (L&T) reported on Friday its net profit rose 8 per cent to Rs 3,418 crore in the March quarter (Q4) of FY2018-19 year-on-year, according to a filing with the Bombay Stock Exchange (BSE).

The Board of Directors has recommended for the approval of shareholders, a dividend of Rs 18 per equity share.

The company's revenues increased 10 per cent to Rs 44,934 crore in Q4FY19 year-on-year.

Analysts at ICICI Securities expected L&T’s standalone revenue to grow 14 per cent year-on-year (YoY) to Rs 30,702.9 crore. EBITDA (Earnings before interest, tax, depreciation and amortisation) margin was expected to improve 20 basis points (bps) to 13 per cent. Net profit or profit after tax (PAT), as per estimates, was expected to grow 24.5 per cent at Rs 2,866.5 crore. READ THE PREVIEW HERE

The results were announced post-market hours on Friday. The stock ended 0.1 per cent down on the BSE at Rs 1,355 levels. L&T has remained subdued during the last one year, underperforming the benchmark S&P BSE Sensex. The stock slipped 1 per cent between May 9, 2018 - May 9, 2019, as against over 6 per cent rise in the S&P BSE Sensex.