Strong revenue growth and operational efficiencies led infrastructure major Larsen and Toubro (L&T) to report an 8% rise in net profit for the March 2019 quarter of ₹3418 crore, against ₹3167 crore in the year-ago period. Revenue from operations in the same period grew 10% to ₹44,933 crore, from ₹40,676 crore in the same period last year.
For the full year, net profit stood at ₹8905 crore, against ₹7369 crore in FY18. Revenue in FY19 was ₹1,41,007 crore, 18% higher over FY18 numbers of ₹1,19,862 crore. International revenue was ₹45,109 crore for the year, constituting 32% of total revenue.
Order intake for the quarter was ₹56,538 crore, growing 14% year-on-year and led by order wins in power, heavy engineering and hydrocarbons. Consolidated order book for the group stands at ₹2,93,427 crore as of March-end, with the international order book accounting for 22% of this.
For FY20, the management gave a guidance of 12-15% growth in revenues and 10-12% growth in the order book.
The infrastructure segment saw order inflows fall 8% to ₹31,033 crore for the quarter while EBITDA margins were lower at 8.5% because of cost pressures and pending claims. The heavy engineering segment saw orders rise 78% year-on-year in FY19 because of increased demand for clean fuel supply to meet BSVI norms and marine pollution norms. EBITDA margins here rose to 24.5% from 21% in the previous year. The hydrocarbon segment secured orders of ₹27,871 crore for the year, increasing 76% compared to FY18.
The financial services segment recorded customer revenue of ₹12,638 crore for the year, registering growth of 26% while revenues at the IT and Technology subsidiaries grew 28% year-on-year to ₹14,371 crore for the year.
In a statement the company said: " With the general elections in the first quarter, the disruptions in decision-making processes could impact key operating parameters in the first half of 2019-20. Nevertheless, with the momentum set on infrastructure building, the emphasis on investments in airports, railroads , water supply, power availability and mass rapid transit systems is expected to continue."
This story has been published from a wire agency feed without modifications to the text.
