L&T net up 40% at Rs 467 crore

BS 200 SCORECARD

Engineering & construction major Larsen & Toubro has posted 40 per cent growth in net profit at Rs 466.85 crore for the quarter ended March 31, 2006, compared with Rs 333.68 crore reported in the previous corresponding period.

The L&T board has recommended a dividend of Rs 22 per equity share (previous year, Rs 17.50 per equity share and a special interim dividend of Rs 10.00 per equity share) of Rs 2.00 each. The board will meet on June 7 to consider the issue of bonus shares.

The company's total income, during the fourth quarter of the year, has increased from Rs 4,364.95 crore to Rs 4,744.97 crore, an increase of 8.7 per cent.

For the year ended March 2006, L&T has posted a net profit of Rs 1012.14 crore, a growth of 2.87 per cent compared with the previous year's Rs 983.85 crore.

Total Income of the company, during 2005-06, grew by 10.54 per cent from Rs 13,748.26 crore to Rs 15,198.63 crore, reported in the previous year, a growth of 10.54 per cent.

For the year ended March 31, 2006, E&C segment recorded 51 per cent growth in order booking at Rs 19,609 crore.

International orders at Rs 3,786 crore constituted 19 per cent of the total value of orders. The company is anticipating its order book to grow by 30 per cent this year.

"We expect our revenue to grow by 22 per cent during the current year as against last year's 12 per cent. This year, the orders are being executed on time. Our international operations are expected to constitute 25 per cent of our total revenues by March 2010," said AM Naik, chairman & managing director, Larsen & Toubro.

The company reported a consolidated income of Rs 1317.21 crore for the year ended March 31, 2006, a growth of 25.50 per cent compared to Rs 1,049.51 crore, the previous year. Total income has increased from Rs 15,037.59 crore to Rs 17,018.55 crore, a 13.17 per cent increase.