New Delhi: Infrastructure giant L&T on Monday registered 4.72 percent jump in consolidated net profit to Rs 3,167.47 crore for the fourth quarter ended 31 March, 2017-18.
It had clocked a net profit of Rs 3,024.61 crore in the January-March quarter of the preceding fiscal, 2016-17.
"The consolidated gross revenue in the quarter January to March 2018 totalled Rs 40,678 crore recording an increase of 10 percent on a year-on-year basis," Larsen and Tubro said in a statement.
Its total expenses during the quarter under review grew to Rs 36,198.11 crore as against Rs 33,464.06 crore during the year-ago quarter.
The order intake grew 5 percent to Rs 49,557 crore during the quarter, it said, adding that international order inflow at Rs 8,678 crore constituted 18 percent of the order inflow for the 3-month period.
Consolidated Order Book of the group stood at Rs 2,63,107 crore as at 31 March, 2018, with international Order Book constituting 24 percent of the total Order Book.
During the quarter January-March 2018, the Infrastructure Segment recorded order inflow of Rs 33,455 crore registering a growth of 27 percent over the corresponding quarter of the previous year. The Order Book of the Segment stood at Rs 1,95,419 crore as at 31 March, 2018.
The company said, "Domestic reforms such as GST, RERA and the Insolvency & Bankruptcy Code have led to disruptions in the year gone by, though these are expected to lead to sustainable long-term growth."
These reform measures along with the increased flow of funds from multilateral Institutions aided by supportive policies such as pursuance of ‘Make in India' initiative, focus on infrastructure buildout, etc are likely to improve the investment climate in the country, it said.
"With tax revenues estimated to show buoyancy through nominal GDP growth and widening of the tax base, budgetary allocations for infrastructure are scheduled to increase although the short-term focus of the Government could well be on the development of rural India through social welfare schemes," it said in outlook.
The revival of stressed business through the IBC is targeted at progressive resolution of the “twin balance sheet” problems and is the first step in facilitating increased credit lines to kick-start private sector capex, the company said.
The Order Book of the company's Power Segment stood at Rs 9,357 crore, a decline of 32 percent.
Heavy Engineering order book increased by 13 percent to Rs 13,523 crore.
The company said the order book of the Hydrocarbon Segment stood at Rs 26,590 crore as at March 31, up 7 percent.
For IT & Technology Services Segment, the Customer Revenue during the March quarter stood at Rs 3,075 crore, up 24 percent, it said.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.
The shares of the company closed 2.52 percent up at Rs 1,377.60 a piece on BSE.
Updated Date: May 28, 2018 17:48:18 IST