(PTI) Engineering and construction giant Larsen & Toubro (L&T) on Wednesday reported a 10 per cent rise in its consolidated net profit to ₹3,987 crore for the quarter ended in March 2023, helped by higher revenues.
The company had posted a consolidated net profit of ₹3,621 crore in the year-ago period, the infrastructure major said in a filing to BSE.
The consolidated revenue of the company during January-March 2023 increased to ₹58,335 crore from ₹52,851 crore in the year-ago period, a rise of 10 per cent.
Its total expenses also surged 11 per cent to ₹51,502 crore against ₹46,334 crore in January-March FY22. The Board of Directors has recommended a final dividend of ₹24 per equity share, for the approval of shareholders. The company received orders worth ₹230,528 crore at the group level during the year ended March 31, 2023, registering a healthy y-o-y growth of 19%. In a separate statement, S. N. Subrahmanyan, Chief Executive Officer of Larsen & Toubro, said "For the first time ever, our group order inflows cross ₹2 trillion ( ₹2 lakh crore) and our order book ₹4 trillion is at a record high.
"Our group revenues at ₹1.83 trillion for the year registered a growth of 17 per cent, the best we have achieved in the five last years, on the back of strong execution momentum in the projects & manufacturing portfolio and a healthy growth in IT&TS businesses."
