NEW DELHI: Engineering and construction giant Larsen & Toubro (L&T) on Wednesday reported a 10 percent rise in its consolidated net profit to Rs.3,987 billion for the quarter ended March 2023, helped by higher sales.
The company reported consolidated net profit of Rs.3,621 billion in the same period last year, the infrastructure giant said in a filing to BSE.
The company’s consolidated sales rose to Rs.58,335 crore in the January-March 2023 period from 52,851 crore in the same period last year, an increase of 10 percent.
Total spending also increased by 11 per cent to Rs.51,502 crore versus Rs.46,334 crore in the January-March 2022 financial year.
The Board has recommended a final dividend of Rs. 24 per share for shareholder approval.
The Company received orders valued at Group level of Rs. 230,528 crore for the year ended March 31, 2023, representing a healthy growth of 19% year-on-year.
In a separate statement SN SubrahmanyanChief Executive Officer of Larsen & Toubro, said: “For the first time ever, our group’s orders exceed Rs. 2 trillion (Rs. 2 lakh crore) and our backlog is at a record high of Rs. 4 trillion.”
“Our consolidated revenue of Rs.1.83 trillion for the year grew 17 per cent, the best we have achieved in the past five years, supported by strong execution momentum in the project and manufacturing portfolio and healthy growth in the IT&TS business .” .”
The company reported consolidated net profit of Rs.3,621 billion in the same period last year, the infrastructure giant said in a filing to BSE.
The company’s consolidated sales rose to Rs.58,335 crore in the January-March 2023 period from 52,851 crore in the same period last year, an increase of 10 percent.
Total spending also increased by 11 per cent to Rs.51,502 crore versus Rs.46,334 crore in the January-March 2022 financial year.
The Board has recommended a final dividend of Rs. 24 per share for shareholder approval.
The Company received orders valued at Group level of Rs. 230,528 crore for the year ended March 31, 2023, representing a healthy growth of 19% year-on-year.
In a separate statement SN SubrahmanyanChief Executive Officer of Larsen & Toubro, said: “For the first time ever, our group’s orders exceed Rs. 2 trillion (Rs. 2 lakh crore) and our backlog is at a record high of Rs. 4 trillion.”
“Our consolidated revenue of Rs.1.83 trillion for the year grew 17 per cent, the best we have achieved in the past five years, supported by strong execution momentum in the project and manufacturing portfolio and healthy growth in the IT&TS business .” .”
