L&T Q4 net down at Rs1,788 cr; declares 1:2 bonus, 925% dividend
22 May 2013
Engineering and technology major Larsen and Toubro has reported a 6.89-per cent dip in its fiscal fourth quarter (January-March 2013) standalone net profit for FY'13 at Rs1,788 crore, hit by higher costs.
Despite higher cost of raw material, sub-contracting charges, consumption of construction material, employee cost and other operating expenses, L&T, however, reported an over 10 per cent increase in its annual net profit at Rs4,911 crore.
The board of directors of the company at its meeting today recommended issue of bonus equity shares in the ratio of 1:2 (one bonus equity share of Rs2 each for two equity shares of Rs2 each held).
Dividend for the year has been fixed at Rs18.50 per equity share of face value Rs2 each (or 925 per cent).
L&T said quarterly gross revenue (January-March 2013) from operations was up 10 per cent at Rs20,485 crore, ''as certain sectoral bottlenecks moderated the pace of execution.''
Profit after tax (PAT) for the year April-March 2012-13 stood at Rs4,911 crore, recording an increase of 10.2 per cent over the previous financial year.
Gross revenue for FY'13 stood at Rs61,471crore, an increase of 14.4 per cent.
L&T garnered fresh orders worth Rs88,035 crore during the year 2012-13, recording a healthy y-o-y growth of 25 per cent.
Order inflow during the January-March 2013 quarter was Rs27,929 crore, an impressive increase of 32 per cent, despite challenging economic environment.
International order inflow constituted 17 per cent of the total order inflow for the year 2012-13.
The major orders during the year came from building and factories, power transmission and distribution, transportation infrastructure and power sectors.
L&T's order book size was the of the order of Rs153,604 crore as of 31 March 2013. Overseas orders constituted 13 per cent of the total order book value.
Profit after Tax (PAT) for the year April-March 2013 stood at Rs4,911 crore, recording an increase of 10.2 per cent over the corresponding previous year.