Larsen & Toubro Q4 net up 28%, to offer 1:2 bonus to investors
L&T’s order book size inched up 5% to Rs 2.61 lakh crore at the end of March 2017
Engineering giant Larsen & Toubro Ltd on Monday reported a 28% growth in consolidated net profit for the March quarter of 2016-17, beating analysts forecast, as the infrastructure segment generating higher revenue.
L&T’s January-March quarter profit was at Rs 3,180 crore, compared with Rs 2,482 crore a year earlier, while total income from operations rose 12% to Rs 36,828 crore.
During 2016-17, the company recorded a 43% jump in net profit at Rs 6,041 crore.
L&T’s order book size inched up 5% to Rs 2.61 lakh crore at the end of March 2017.
The board of directors approved bonus shares in the ratio of 1:2, or one shares for every two held, and recommended a dividend of Rs 21 per share as compared with Rs 18.25 paid a year ago.
Gross revenue from the infrastructure segment increased 8 percent on progress of jobs under execution, the company said on Monday.
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs