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L&T Q4 results: Net profit rises 3% YoY to ₹3,293 cr; co announces dividend of ₹18 – Mint

Sequentially, the profit rose 33% from 2,467 crore in the December quarter. Moreover, the consolidated Profit After Tax (PAT) including PAT from discontinued operations for the year ended March 31, 2021 stood at 11,583 crore, registering a rise of 21% y-o-y.

The consolidated PAT includes a charge of 3,620 crore towards exceptional items and profit from Discontinued Operations 8,238 crore, mainly comprising of gain on divestment, L&T said.

The company reported a 9% on-year growth in consolidated revenues to 48,088 crore showing a return to pre-Covid levels of activity. The international revenues during the quarter at Rs15,851 crore constituted 33% of the total revenue.

For the year ended March 31, 2021, the company said that it recorded consolidated revenues at 135,979 crore from continuing operations, registering a decline of 7%, attributed to revenues lost due to lockdown related disruptions in the first two quarters of the year and new norms of social distancing, quarantine procedure and safety protocols, coupled with supply chain disruptions impacting project execution progress, though with declining severity, throughout the year. The International revenues during the year at 50,463 crore constituted 37% of the total revenue.

The company’s board has recommended a final dividend of 18 per share as an interim dividend, post the divestment of the Electrical Et Automation business for the financial year 2020-21.

The order inflow for the quarter January-March 2021 at 50,651 crore, lower by 12% over the corresponding period of the previous year with deferment of awards, the company said in a regulatory filing.

Significant orders during the quarter were received in various segments like Factories, Hydel and Tunnel, Metros, Special bridges, Nuclear power, Rural water, Renewable energy, Hydrocarbon offshore and Minerals and metal sector. International orders at 18,439 crore during the quarter is at 36% of the total order inflow, with receipt of biggest Solar PV plant order and Transmission line orders.

Moreover, the firm received orders worth 175,497 crore at the group level during the year ended March 31, 2021, registering a decline of 6% compared to the previous year in the face of Covid disrupted business environment in first half of the year.

International orders stood at 47,951 crore during the year, down 27% of the total order inflow, with subdued overseas opportunities, especially in West Asiat. The consolidated order book of the group stood at 327,354 crore as at March 31, 2021, registering a rise 8% over March 31, 2020. International orders constitute 21% of the total order book.

Shares of the company were closed 2.11% higher at 1,414.50 apiece on BSE.

Earlier today, L&T had said its construction arm has bagged an up to 5,000 crore contract from Chennai Metro Rail Corporation.

“The business has secured an order from Chennai Metro Rail Corporation Ltd (CMRL) to construct nearly 12 km twin bored tunnels from Kellys station to Taramani Road Junction station,” the company said in a regulatory filing.

L&T said the business has also secured another order from Chennai Metro Rail Corporation to construct approx 8 Km of elevated Viaduct with 9 elevated metro stations starting from Power House to Porur Junction including other associated works.

The engineering and construction company did not provide the exact value of the contract, but as per its project classification, “large” orders are those valued between 2,500 crore and 5,000 crore.

L&T said these projects are the first packages of phase – II which have been awarded by Chennai Metro Rail.

“Both the projects were bagged under stiff competition from domestic and international metro construction players,” the company added.

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