Net profit jumps 46%; special dividend of Rs 6 a share declared

The net profit of Larsen & Toubro (L&T) for the first quarter of the current financial year (Q1YFY24) saw a rise of 46.4 per cent to Rs 2,493 crore, compared to Rs 1,702 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was down 37.4 per cent. In Q4FY23, the net profit of the company was Rs 3,986.7 crore.

The company announced a special dividend of Rs 6 per equity share for the current financial year.

The revenue from operations for Q1FY24 came in at Rs 47,882.3 crore, compared to Rs 35,853.2 crore year-on-year (YoY). This is an increase of 33.5 per cent.

On a quarter-on-quarter (QoQ) basis, the revenue for operations was down 17.91 per cent. It was Rs 58,335.1 crore in Q4Fy23.

The company’s operational performance improved as earnings before interest tax, depreciation and amortisation (Ebitda) saw a fall to Rs 4,869 crore in Q1FY24, as compared to Rs 3,953 crore in the corresponding period of the previous year.

The international revenues during the quarter were Rs 19,022 crore and constituted 40 per cent of the total revenue. The company witnessed a strong 57 per cent YoY growth in order inflows to Rs 65,520 crore during the quarter.

The international orders at Rs 27,646 crore during the quarter comprised 42 per cent of the total order inflow.

The consolidated order book of the group was Rs 4.13 trillion as of June 30, with international orders having a share of 29 per cent.