L&T Q4 net up 50 pc at Rs 701 cr; declares dividend | business | Hindustan Times
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L&T Q4 net up 50 pc at Rs 701 cr; declares dividend

Larsen & Toubro posts an increase of over 50 per cent in net profit at Rs 700.77 crore for the quarter ended March 31.

business Updated: May 29, 2007 15:11 IST

Engineering and construction major Larsen & Toubro (L&T) on Tuesday posted an increase of over 50 per cent in net profit at Rs 700.77 crore for the quarter ended March 31, against Rs 466.85 crore for the same quarter last year.

The total income (net of excise) grew 34.91 per cent to Rs 6,452.38 crore for the fourth quarter ended March 31, from Rs 4,782.46 crore in the corresponding quarter a year-ago, L&T said in a communique to the Bombay Stock Exchange.

The board of directors of the company at its meeting on Tuesday declared a final dividend of Rs 2 per share, which together with the interim dividend of Rs 11 per share declared earlier, works out to Rs 13 on shares of Rs 2 each for the year ended March 31, 2007.

For the year ended March 31, L&T recorded a net profit after tax (after extraordinary items) of Rs 1,403.02 crore as against Rs 1,012.14 crore in the previous year and the total income (net of excise) increased to Rs 18,041.13 crore from Rs 15,198.63 crore in the period under consideration.

In the consolidated results for the year ended March 31, net profit was Rs 2,240.14 crore compared to Rs 1,317.21 crore last year and total income (net of excise) increased to Rs 21,342.16 crore from Rs 17,018.55 crore in the period under review.

The shares of L&T were trading at Rs 1,800, up 0.84 per cent on BSE in afternoon trade.