L&T [LT] Navigates Q4 FY24 with Robust Revenue Growth and Record Order Book, Declares ₹38 Dividend
Infrastructure giant Larsen & Toubro [LT] reported an 11% increase in Q4 FY24 revenue and achieved an all-time high order book, despite a marginal 3% dip in net profit. The company also announced a significant ₹38 per share dividend for its shareholders.
Mumbai: Indian engineering and construction behemoth Larsen & Toubro [LT] has unveiled its financial results for the fourth quarter of fiscal year 2024 (Q4 FY24), presenting a mixed yet largely optimistic picture. While the company's consolidated net profit saw a slight year-on-year decline of 3% to ₹5,326 crore, this was against a backdrop of impressive revenue growth and a burgeoning order book.
For the quarter ended March 31, 2024, L&T [LT] reported a substantial 11% surge in revenue, reaching ₹82,762 crore. This strong top-line performance underscores the company's operational strength and execution capabilities in a dynamic market environment.
A significant highlight from the earnings report is the company's order book, which has scaled an unprecedented all-time high of ₹7.4 lakh crore. This robust pipeline provides excellent revenue visibility and reflects sustained demand for L&T's diverse range of engineering, procurement, and construction (EPC) services across various sectors, both domestically and internationally.
In a move to reward its shareholders, the board of directors has recommended a final dividend of ₹38 per equity share. This declaration signals confidence in the company's long-term prospects and commitment to shareholder returns, even as it navigates minor profit fluctuations.
Looking ahead, L&T [LT] is also moving forward with its strategic divestment plans. The company aims to offload its stakes in Nabha Power and L&T Metro Rail by June 30, aligning with its broader strategy to streamline its portfolio and unlock value from non-core assets.
Overall, L&T's Q4 FY24 results demonstrate its resilience and strategic focus, with strong revenue generation and an unparalleled order book positioning it firmly for future growth in the infrastructure development landscape.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult your financial advisor before making any investment decisions. StockTips.in is not a SEBI-registered investment advisor.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult your financial advisor before making any investment decisions. StockTips.in is not a SEBI-registered investment advisor.