100s of titles, one news app for just $10 a month.
Dive Deeper:
L&T Q4FY22: Consolidated PAT rises by 10% YoY in line with revenue growth
L&T registered a consolidated net profit of ₹3,621 crore for the quarter ending March 31, 2022 (Q4FY22). .Consolidated revenues stood at…
Tata Motors Q4 consolidated net loss narrows to Rs 992 crore; revenue down at Rs 78,439 crore
NEW DELHI: Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in…
Aditya Birla Capital profit after tax rises 20% to Rs 450 crore
NEW DELHI: Aditya Birla Capital on Thursday reported a rise of 20 per cent in its consolidated profit after tax…
Stocks to Watch: SBI, Tech Mahindra, RIL, Bank of Baroda, Airtel, Tata Motors
SBI, Eicher Motors, Tech Mahindra, Bank of Baroda, Bandhan Bank, Union Bank of India, Alkem Laboratories, Emami, Escorts, Hindustan Aeronautics,…
One subscription that gives you access to news from hundreds of sites
Market sell-off: Investors poorer by over Rs 13.32 lakh crore in 4 days
NEW DELHI: A four-day decline in stocks has wiped out over Rs 13.32 lakh crore from the market capitalisation of…
PNB Q4 net drops 66% to Rs 202 crore
NEW DELHI: Public sector lender Punjab National Bank on Wednesday reported a 66 per cent decline in its standalone net…
Get all your news in one place
Latest Business news:
ASX set to fall, Wall Street extends losses, S&P 500 inches closer to bear market
The Australian share market is likely to open slightly lower, after another volatile day on Wall Street as investors weighed…
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Australia's housing crisis could be tackled by taking inspiration from Scotland, industry leaders say
Scotland plans to deliver more affordable housing, tackle high rents and decarbonise homes while creating jobs, while in Australia a…
China’s Stimulus Tops $5 Trillion as Covid Zero Batters Economy
China’s plans to bolster growth as Covid outbreaks and lockdowns crush activity will see a whopping $5.3 trillion pumped into…
For tech startups, the party is over
Funding is suddenly scarce as venture capital firms grow stingy, forcing young companies to get frugal and focus on breaking…
Upstate New York becomes hotbed for cryptocurrency mining. It might not last.
Environmentalists and some public officials contend the conversion of fossil-fuel power plants to crypto mining will make it hard to…
From analysis to good news, read the world’s best news in one place
Is Elon Musk getting cold feet? Why the entrepreneur may be trying to pull out of buying Twitter
Has Elon Musk developed cold feet? Is he experiencing buyer’s remorse? Or is he trying to create drama for the…
Global economy loses $1.6 trillion as world struggles to avoid a new cold war
LONDON: The ties that bind the global economy together, and delivered goods in abundance across the world, are unravelling at…

L&T net profit rises 10% to Rs 3,621 crore in Q4

By PTI

MUMBAI: Larsen & Toubro on Thursday reported a 10 per cent growth in its consolidated net profit at Rs 3,620.69 crore for the quarter ended March, 2022.

The company had posted a consolidated net profit of Rs 3,292.81 crore in the year-ago period, Larsen & Toubro (L&T) said.

The consolidated income during the quarter under review rose to Rs 53,366.26 crore from Rs 49,116.16 crore in the year-ago period,

"The consolidated net profit after tax for the quarter ended March 31, 2022 at Rs 3,621 crore registered a growth of 10 per cent over the corresponding quarter of the previous year, in line with revenue growth," the company said in a statement.

The consolidated income of the company during the January-March 2022 period increased to Rs 53,366.26 crore from Rs 49,116.16 crore in the year-ago period.

The company bagged projects worth Rs 1,92,997 crore at the group level during the year ended March 31, 2022, registering a growth of 10 per cent over previous year, it said.

For the full fiscal, consolidated revenue stood at 1,56,523 crore, a growth of 15 per cent over FY21, it said.

The company said it secured orders worth Rs 1,92,997 crore at the group level during the year, registering a growth of 10 per cent over previous year.

During the reported quarter, it bagged orders worth Rs 73,941 crore, registering a strong growth of 46 per cent over the corresponding quarter of the previous year, with the infrastructure segment booking a mega order from the Middle East.

The consolidated order book of the group was at record levels of Rs 3,57,595 crore as on March 31, 2022, with international orders having a share of 27 per cent, it said.

The continuing fluctuations in prices of crude oil and other commodities owing to the current geopolitical uncertainties is leading to high input prices for industries and consumers.

The resultant supply chain disruptions could pose a threat to the growth plans of the company in the short-term, it stated.

The company, despite the challenging situation, has shown terrific sustenance from a growth, revenue profitability point of view, chief financial officer R Shankar Raman said at a media briefing.

"We look at FY23 with hope and optimism. We think both the revenues and the order inflow would increase between 12 and 15 per cent," he said.

The company has a debt of Rs 1.2 lakh crore with financial services business debt accounting for 80 per cent, Raman said.

"The liquidity has been well-managed during the year, we've been able to generate adequate cash from our operations. And after paying the statutory taxes and meeting all the related liabilities, we've been able to retire our debt as well," said Raman.

"We are (going to be) more or less a debt-free company by this year," L&T managing director and CEO S N Subrahmanyan said.

The company with its detailed five-year strategic plan -- Lakshya'26 -- has chalked out a path for future value creation for its stakeholder, it said.

It lays out a plan for pursuing profitable growth in its traditional businesses of engineering, procurement and construction projects and manufacturing.

By FY26, L&T targets orders worth Rs 3.4 lakh crore, up 14 per cent from current year, while revenue is expected to grow 15 per cent to Rs 2.7 lakh crore, it said.

The company will also incubate digital offerings in data centres, tech education and B2B e-commerce, it said.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
L&T Q4FY22: Consolidated PAT rises by 10% YoY in line with revenue growth
L&T registered a consolidated net profit of ₹3,621 crore for the quarter ending March 31, 2022 (Q4FY22). .Consolidated revenues stood at…
Tata Motors Q4 consolidated net loss narrows to Rs 992 crore; revenue down at Rs 78,439 crore
NEW DELHI: Homegrown auto major Tata Motors on Thursday reported narrowing of consolidated net loss at Rs 992.05 crore in…
Aditya Birla Capital profit after tax rises 20% to Rs 450 crore
NEW DELHI: Aditya Birla Capital on Thursday reported a rise of 20 per cent in its consolidated profit after tax…
Stocks to Watch: SBI, Tech Mahindra, RIL, Bank of Baroda, Airtel, Tata Motors
SBI, Eicher Motors, Tech Mahindra, Bank of Baroda, Bandhan Bank, Union Bank of India, Alkem Laboratories, Emami, Escorts, Hindustan Aeronautics,…
One subscription that gives you access to news from hundreds of sites
Market sell-off: Investors poorer by over Rs 13.32 lakh crore in 4 days
NEW DELHI: A four-day decline in stocks has wiped out over Rs 13.32 lakh crore from the market capitalisation of…
PNB Q4 net drops 66% to Rs 202 crore
NEW DELHI: Public sector lender Punjab National Bank on Wednesday reported a 66 per cent decline in its standalone net…
Get all your news in one place