Engineering and construction major Larsen & Toubro on Friday reported 6% decline in its consolidated net profit at ₹3,197 crore for the quarter ending March 2020. The company's net profit in year-ago period was ₹3,418 cr.
However, the consolidated revenue from operations increased by 2% to ₹44,245 crore as against ₹43,303 crore in March 2019.
For the full fiscal year (2019-20), its consolidated net profit recorded an increase of 6.14% to ₹10,239.71 crore as against ₹9,647.25 crore in the previous year.
The company's consolidated order book at March end was ₹3.03 lakh crore.
"The consolidated order book of the group stood at ₹3,03,857 crore as on March 31, 2020, registering a growth of 4 per cent over March 2019. International orders constitute 25 per cent of the total order book," it said in a statement.
The company's directors have recommended a final dividend of ₹8 per share.
Shares of Larsen & Toubro were up 2.61% at closing on Friday on BSE, outperforming the broader Mumbai market. Larsen & Toubro shares traded 2.61% higher at ₹955.30, giving it a market capitalization of ₹1,34,113.80 crore.
Larsen & Toubro on Friday said it has secured a large contract from the government of Telangana for an irrigation project.
Though the company did not specify the exact contract value, as per its specification a 'large' contract ranges between ₹2,500 crore and ₹5,000 crore.
"The heavy civil infrastructure business of L&T Construction has secured an order from the Irrigation and Command Area Development Department (I&CAD), Government of Telangana," the company said in a statement.
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