The EPC major's consolidated net profit rose 10.27% to Rs 4,396.12 crore on 14.99% increase in revenue from operations to Rs 67,078.68 crore in Q4 FY24 over Q4 FY23.
The company said that the share of international revenues during the quarter was 45%.
Profit before exceptional items and tax grew by 7.12% year on year to Rs 6,328.23 crore in quarter ended 31 March 2024. Exceptional items stood at Rs 93.61 crore in the March quarter.
EBITDA in Q4 FY24 was at Rs 7,234 crore, up 6% from Rs 6,833 crore reported in Q4 FY23. EBITDA margin reduced to 10.8% in Q4 FY24 as compared to 11.7% posted in the same period a year ago.
The order inflow for the quarter ended 31 March 2024 stood at Rs 72,150 crore, registering a marginal de-growth of 5% over the corresponding quarter of the previous year. Domestic order inflow grew by 17% as compared to the corresponding quarter of the previous year. International orders were at Rs 25,217 crore constituted 35% of the total.
The Infrastructure Projects segment recorded customer revenues of Rs 38,035 crore for the fourth quarter, up 22% YoY. International revenues constituted 36% of the total customer revenues of the segment during the quarter. The segment secured orders of Rs 31,340 crore, during the quarter, registering a degrowth of 24% YoY, largely due to the receipt of some high-value orders in the previous year. International orders constituted 22% of the total order inflow for the quarter.
The Energy Projects segment achieved customer revenues of Rs 8,205 crore in Q4 FY24, recording a modest growth of 4% YoY. International revenues had a share of 61% of the total customer revenues for the quarter. The segment secured orders of Rs 13,120 crore in Q4 FY24, up 48% YoY, on the receipt of multiple international orders in Hydrocarbon business. International orders constituted 52% of the total order inflow for the quarter.
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The Hi-Tech Manufacturing segment recorded customer revenues of Rs 2,462 crore during the quarter, recording a growth of 15% YoY. Export sales comprised 25% of the total customer revenues for the quarter. The segment secured orders worth Rs 8,790 crore in Q4 FY24, up 3% over Q4 FY23. International orders constituted 14% of the total order inflow for the quarter.
The IT & Technology Services (IT&TS) segment recorded customer revenues of Rs 11,244 crore for the quarter ended 31 March 2024, up 3% YoY. International billing contributed 91% of the total customer revenues. In USD terms, aggregate revenues of the two listed subsidiaries in the segment revenues of 1,375 million for the quarter grew 2% on a YoY basis.
The financial services segment recorded income from operations at Rs 3,598 crore during the quarter, registering a growth of 15% YoY.
The Development Projects segment reported customer revenues of Rs 1,258 crore for the quarter ended 31 March 2023, up 2% on YoY basis.
On full year basis, the companys consolidated net profit jumped 24.72% to Rs 13,059.11 crore on 20.6% rise in revenue to Rs 2,21,112.91 crore in FY24 over FY23.
The PAT includes an exceptional gain (net of tax) of Rs 94 crore, attributed to the divestment of stake in L&T IDPL (L&T Infrastructure Development Projects).
The company received orders worth Rs 302,812 crore at the group level during the year ended 31 March 2024, up 31% YoY.
The consolidated order book of the group as on 31 March 2024, was at Rs 475,809 crore registered a growth of 20% over the previous year, with the share of international orders at 38%.
In its outlook, L&T said, The company will continue to focus on profitable execution of its strong order book as well as positioning itself for tapping into emerging opportunities. A record high order book, a strong balance sheet, a well-diversified business portfolio and proven execution capabilities enables the company to steer through the current volatile business environment. The company as always, remains committed to maximizing sustainable value to all its stakeholders.
Meanwhile, the companys board has recommended a final dividend of Rs 28 per share for FY24. The firm has fixed Thursday, 20 June 2024 as the record date for the said dividend.
Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customerfocused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.
Shares of Larsen & Toubro added 1.53% to Rs 3,485.20 on the BSE.
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