Larsen & Toubro, on Wednesday, reported a 10.11 per cent jump in consolidated net profit for the quarter ended March. The company clocked ₹3,986 crore in profit against ₹3,620 crore registered in the same quarter last year.

The company declared a final dividend of ₹24 per equity share. It achieved consolidated revenues of ₹183,341 crore for the year.

The profit rose 56.19 per cent compared with ₹2,552 crore reported in Q3.

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Total revenue from operations grew 10.37 per cent to ₹58,335 crore in the quarter under review compared to ₹52,850 crore in the same quarter last year. Revenue grew 25.75 per cent compared to ₹46,389 crore in the December quarter .

Order flow

L&T said it received orders worth ₹230,528 crore at the group level while international orders were at ₹86,523 crore comprising 38 per cent of the total order inflow.

The growth of the company was driven by infrastructure which witnessed an order inflow of ₹45,054 crore during the quarter followed by the energy segment which reported an order inflow of ₹7,609 crore and IT and technology services with an order inflow of ₹8,761 crore. The order inflow for the quarter that ended on March 31, 2023 registered a 3 per cent growth and was at ₹76,099 crore.

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“We are pleased to report strong all-round results for the quarter and the year. For the first time ever, our group order inflows cross ₹2 lakh crore and our order book ₹4 lakh crore is at a record high.. With the conclusion of the sale of the mutual fund business and a phased rundown of the wholesale loan assets portfolio, our financial services business will now fast forward its stated strategy of “Retailisation of the loan book”. We are pursuing the path of divesting our non-core assets and increasing our exposure to energy transition and tech-driven businesses,” said SN Subrahmanyan, Chief Executive Officer and Managing Director, Larsen & Toubro Limited.

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