L&T gets shareholders nod for 1:1 bonus issue
28 Aug 2006
Mumbai: Engineering and construction major Larsen & Toubro Ltd has received shareholders consent for issuing bonus shares in the ratio of 1:1.
"The annual general general meeting held recently approved the bonus issue, where one bonus share would be issued to the shareholders for every one share held," the company informed the Bombay Stock Exchange.
L&T had reported gross sales from operations of Rs3,524 crore for the quarter ended June 30, 2006 as against Rs3,132 crore for the corresponding quarter of the previous year. The share of revenues from international operations constituted 17 per cent of the gross revenues reported for the quarter.
The company reported a 54 per cent growth in profit before tax (PBT) at Rs245 crore for the quarter ended June 30, 2006. Profit after tax (PAT) for the quarter increased to Rs157 crore, up 10 per cent from the corresponding quarter of the previous year. PAT for the current quarter is up 60 per cent compared to the PAT of Rs98 crore, excluding extraordinary items and gains from divestitures for the corresponding quarter of the previous year.
Shares of the company were trading at Rs2,364 on the BSE, up 0.52 per cent.
