L&T FY06 net up 25%, board to consider bonus issue

The board of directors of Larsen & Toubro (L&T) is planning to meet on June 7 to consider a proposal to issue bonus shares. This was announced in a release issued by the company to the BSE today.

Larsen & Toubro (L&T) today reported a 25.50% increase in consolidated net profit at Rs 1,317.21 crore for the year ended March 31, 2006 when compared with Rs 1,049.51 crore in FY05. Total group income increased to Rs 17,018.55 crore from Rs 15,037.59 crore in FY05.

The company, on a stand-alone basis, has posted a net profit after tax of Rs 466.85 crore for the quarter ended March 31, 2006 when compared with Rs 333.68 crore in Q4FY05. Total income increased to Rs 4,744.97 crore from Rs 4,364.95 crore in Q4FY05.

The company posted a net profit of Rs 1,012.14 crore for the year ended March 31, 2006 as against Rs 983.85 crore in FY05. Total income increased to Rs 15,198.63 crore from Rs 13,748.26 crore in FY05.

The directors have 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 per equity share of Rs 2 each.