Millennium Post

L&T Q4 profit drops 7% to `1,788 crore

Infrastructure conglomerate Larsen & Toubro on Wednesday reported a 6.90 per cent decline in standalone net profit to Rs 1,787.94 crore for the fourth quarter ended March, 2013, due to a sharp rise in interest outgo. It had reported a net profit of Rs 1,920.41 crore for the corresponding quarter of 2011-12.

The Infrastructure major did not publish the consolidated financial results for the quarter. L&T, in a filing to the BSE, also announced to give company shareholders one bonus share of Rs 2 each for every two shares of Rs 2 each they hold to commemorate its platinum jubilee.

Net sales were up 10 per cent to Rs 20,293.83 crore in the quarter vis-a-vis Rs 18,460.90 crore of the fourth quarter of financial year 2011-12, it said in a filing to the BSE. However, it reported 132 per cent rise in finance costs at Rs 280.99 crore during the quarter as against Rs 121.09 crore of Q4 of FY12.

For the full year ended March 31, 2013, L&T reported a standalone net profit of Rs 4,910.65 crore, up 10 per cent from the previous year's level of Rs 4,456.50 crore. Its consolidated net profit in the last fiscal stood at Rs 5,205.67 crore, up 10.91 per cent vis-a-vis Rs 4,693.69 crore of FY12.

Consolidated net sales of the company rose by 15.84 per cent during the last fiscal at Rs 74,498 crore as against a net sales of Rs 64,313.11 crore. The company Board has also recommended a dividend of Rs 18.50 per equity share to its shareholders.
PTI

PTI

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