Larsen and Toubro (L&T), India’s engineering and construction giant, registered a consolidated net profit of Rs.3,293 crore in the March quarter (Q4FY21) with an increase . of 3 per cent from Rs.3,197 crore profit posted in last year’s Q4(FY20).
The company in its BSE filing said, “The economy which made a resilient comeback during the later part of FY 2020-21, is once again at the crossroads, with the onset of a more ferocious second wave of the Covid-19 pandemic, impacting many states. This is expected to temporarily slow down the growth momentum, especially during the first quarter of FY 2021-22.”.
Moreover, in the December quarter the profit rose 33 per cent from Rs.2,467 crore. Resultantly, the company’s board has recommended a final dividend of Rs.18 per equity share.
On the Revenue front, the revenue from operations stood at Rs.48,088 crore for the quarter ended March 31, 2021 which saw an increase of 8.6 per cent from the revenue of Rs.44,245 crore posted in the same quarter last year.
On the other hand, The order inflow was lowered by 12% for the quarter January-March 2021 which stood at Rs.50,651 crore as compared to the same quarter of the previous year with the deferment of the awards. International orders stood at Rs.18,439 crore during the quarter which contributed to 36 per cent of the total order inflow.
If the consolidated order book of the group has to be seen, then it stands at Rs.327,354 crore as of March 31, 2021, clocking an increase of 8 percent over March 31, 2020.
The company further explained, “Significant orders during the quarter were received in various segments like factories, hydel and tunnel, metros, special bridges, nuclear power, rural water, renewable energy, hydrocarbon offshore and minerals and metal sector.”
“The year-on-year 9 percent growth in revenue evidenced a return to pre-COVID levels of activity. The sequential growth in quarterly revenue was at 35.1 percent, with execution activities normalizing on easing of COVID-19 restrictions, prior to onset of the second wave of the pandemic,” L&T stated in it’s filing.
The Infrastructure Giant said, “The decline in revenue attributed to revenues lost due to lockdown related disruptions in the first two quarters of the year and new norms of social distancing, quarantine procedure and safety protocols, coupled with supply chain disruption impacting project execution progress, though with declining severity, throughout the year.”