BILKULONLINE
Mumbai, May 9: Engineering and construction major Larsen and Toubro (L&T) on Wednesday reported 10 per cent rise in consolidated net profit to Rs 4,396 crore for the January-March quarter of 2023-24.
L&T’s revenue from operations jumped 15 per cent to Rs 67,079 crore with international earnings accounting for 45 per cent of the total. The company’s board has recommended a final dividend of Rs 28 per share of the face value Rs 2 each for the financial year ended March 2024.
For the year ended March 2024, L&T posted a consolidated net profit of Rs 13,059 crore, registering a growth of 25 per cent compared to the previous year. The double-digit growth in revenue and profit of L&T reflects the multiplier effect of massive government investments in big ticket infrastructure projects to spur economic growth in the country.
L&T said it expects tailwinds of India’s economic growth will continue due to the impact of structural reforms, strengthening physical and digital infrastructure, improving institutional strength and strong governance.