L&T Q4 profit rises 5% on higher order intake
Infrastructure giant Larsen and Toubro (L&T) on Monday registered a 4.72 per cent jump in consolidated net profit helped by a higher order intake during the period.
The company posted a profit of Rs 3,167.47 crore for the fourth quarter ended March 31, 2017-18 as against Rs 3,024.61 crore in the same period of the preceding fiscal.
"The consolidated gross revenue in the quarter January to March 2018 totalled Rs 40,678 crore recording an increase of 10 per cent on a year-on-year basis," L&T said. Its total expenses during the quarter grew to Rs 36,198.11 crore as against Rs 33,464.06 crore in the yearago quarter.
The order intake grew 5 per cent to Rs 49,557 crore during the quarter, it said, adding that international order inflow at Rs 8,678 crore constituted 18 per cent of the order inflow for the 3-month period. Consolidated order book of the group stood at Rs 2,63,107 crore as at March 31, 2018, with international order book constituting 24 per cent of the total order book.
The infrastructure segment recorded order inflow of Rs 33,455 crore registering a growth of 27 per cent over the corresponding quarter of the previous year. The order book of the segment stood at Rs 1,95,419 crore as at March 31, 2018.
The company said, "Domestic reforms such as GST, RERA and the Insolvency & Bankruptcy Code have led to disruptions in the year gone by, though these are expected to lead to sustainable long term growth." These reform measures along with increased flow of funds from multilateral Institutions aided by supportive policies such as pursuance of ‘Make in India' initiative, focus on infrastructure buildout, etc are likely to improve the investment climate in the country, it said.
"With tax revenues estimated to show buoyancy through nominal GDP growth and widening of the tax base, budgetary allocations for infrastructure are scheduled to increase although the short term focus of the government could well be on development of rural India through social welfare schemes," it said.