L&T Q4FY18 surpasses estimates, posts 5% growth in net profit; recommends dividend
Bloomberg poll of analysts expected L&T's net profit to come in at Rs 2,995 crore for Q4FY18.
Larsen & Toubro surpassed analysts estimates by posting a nearly 5% growth in consolidated net profit during fourth quarter ended March 2018 result. The company recorded overall PAT for the January to March 2018 quarter at Rs 3,167 crore, higher by 4.92% as compared to Rs 3,025 crore recorded for the corresponding quarter of the previous year. A Bloomberg poll of analysts expected L&T's net profit to come in at Rs 2,995 crore for Q4FY18.
The Consolidated Gross Revenue in the quarter January to March 2018 totalled to Rs 40,678 crore recording an increase of 10% on a y-o-y basis.
Order intake for the quarter ended March 31, 2018 at Rs 49,557 crore grew by 5% y-o-y. International order inflow during the quarter at 8,678 crore constituted 18% of the order inflow for the quarter.
For FY18, PAT came in at Rs 7,370 crore registering a growth of 22% y-o-y. While revenue was at Rs 119,862 crore witnessing a y-o-y growth of 9%. International revenue during the year at Rs 39,699 crore constituted 33% of the total revenue.
In this fiscal, L&T won fresh orders worth Rs 152,908 crore at the group level registering a growth of 7% over the previous year. The International orders during the year at Rs 35,853 crore constituted 23% of the total order inflow. Order wins in Infrastructure and Hydrocarbon segments were the major contributors to the order flow during the year.
In a meeting held today, the Board of Directors has recommended for the approval of shareholders, a Dividend of Rs 16 per share.
On BSE, the share price of L&T finished at Rs 1377.60 per piece above Rs 33.80 or 2.52%.