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L&T Q4 PAT declines over 6% to 3197 cr

Profit before tax (PBT) stood at Rs 4382.13 crore in Q4 FY20, down by 14.9% from Rs 5150.61 crore in Q4 FY19. The result was announced after market hours on Friday (5 June).

L&T's consolidated net profit rose 7.2% to Rs 9,549.03 crore on 7.6% increase in net sales to Rs 1,45,452.36 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT stood at Rs 14,085.52 crore in FY20, down by 1.5% from Rs 14,304.67 crore in FY19.

The company bagged orders worth Rs 186,356 crore at the group level during the year ended 31 March 2020, registering growth of 9% compared to the previous year. International orders during the year at Rs 60,094 crore increased to 32% of the total order inflow.

The order inflow for the quarter ended 31 March 2020 stood at Rs 57,785 crore, registering a growth of 5% over the corresponding period of the previous year, with significant orders received in Infrastructure segment.

The consolidated order book of the group stood at Rs 303,857 crore as at 31 March 2020, registering a growth of 4% over March 2019. International orders constitute 25% of the total order book.

During the quarter January-March 2020, the infrastructure segment recorded order inflow of Rs 41,396 crore, registering a growth of 33% over the corresponding quarter of the previous year.

In its outlook, L&T said that the Indian economy has been struck by the coronavirus pandemic. Even though the government has announced a wide ranging raft of stimulus measures designed to alleviate stress in various sectors, it is likely that economic growth will still take a few quarters more to revive to healthy levels. Against this backdrop of domestic and global challenges, the company has taken a number of measures designed to weather the economic crisis. While the initial quarters of FY21 are expected to be adversely affected by the current upheaval, the company expects growth revival in the later part of the financial year assuming things get better from here.

During the quarter the company declared interim dividend Rs 10 per equity share. The board of directors has recommended a final dividend of Rs 8 per equity share for the approval of shareholders.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

Shares of L&T rose 2.61% to Rs 955.30 on the BSE on Friday. It had traded in the range of Rs 937.50 and Rs 964.90 during the day.