L&T Construction wins orders worth Rs 5146 crore

Larsen and Toubro

Larsen and Toubro

A Bloomberg poll of analysts expected net profit at Rs 2,650 crore for L&T this Q4.

L&T's March quarter profit stood at Rs 3,180 crore compared with Rs 2,482 crore posted for the year-ago period.

Larsen & Toubro recorded revenue of Rs 36,828 crore for the final quarter of the financial year, recording an increase of 12% on a y-o-y basis.

ParticularsQuarter EndedYear EndedMar. 2017Mar. International Order Book constituted 27 per cent of the total Order Book. 34% of the total revenue was captured by global business where gross revenue stood at Rs 37,653 crore.

On the performance of various sectors, the company said the infrastructure segment achieved a customer revenue of Rs 52,924 crore for the year, a growth of 8 per cent, even as delayed payments and clearances impacted execution.

Meanwhile, the company has announced today that its construction arm has won orders worth Rs 5146 crore acreoss various business segments.

Order wins in Infrastructure segment, Hydrocarbon and Heavy Engineering segments contributed to the orderflow during the year.

"Economic recovery in the country is expected to steadily improve in the current year backed by structural reforms and overcoming the short-term effects of demonetization", the company said in the statement.

The engineering and construction conglomerate also raised the dividend to Rs 21 per share from Rs 18.25 apiece declared a year ago.

It added that the government's thrust on key infrastructure sectors such as transportation, power, affordable housing, smart cities will be strong driver for stable economic growth. The company is also emphasizing on cost competitiveness, continuous optimization of working capital, restructuring of its business portfolio and value creation with an aim to enhance its return on equity.

Shares of the company were trading at Rs 1,773.05 apiece, down 0.84 per cent from the previous close on the BSE.

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