Engineering and construction giant Larsen & Toubro (L&T), on Wednesday, reported a 10 per cent rise in its consolidated net profit to Rs 3,987 crore for the quarter ended in March 2023, helped by higher revenues.
The company had posted a consolidated net profit of Rs 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 Rs 58,335 crore from Rs 52,851 crore in the year-ago period, a rise of 10 per cent.
Its total expenses also surged 11 per cent to Rs 51,502 crore against Rs 46,334 crore in January-March FY22.
The board of directors has recommended a final dividend of Rs 24 per equity share, for the approval of shareholders.
The company received orders worth Rs 230,528 crore at the group level during the year ended March 31, 2023, registering a healthy y-o-y growth of 19 per cent.
In a separate statement, S. N. Subrahmanyan, chief executive officer of Larsen & Toubro, said, "For the first time ever, our group order inflows cross Rs 2 trillion (Rs 2 lakh crore) and our order book Rs 4 trillion is at a record high. Our group revenues at Rs 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."
