L&T Q4 consolidated net profit up 3% to Rs 3,293 crore on higher revenues

India’s largest engineering and construction firm Lar­sen & Toubro (L&T) on Friday reported a consolidated net profit of Rs 3,293 crore for Q4, up 3 per cent year-on-year (YoY) on higher revenues and surge in other income.

The reported net profit was higher than Bloomberg consensus estimate of Rs 3,042 crore, des­pite the 116 per cent YoY jump in tax expenses to Rs 2,087 crore. In Q4, net sales at Rs 48,088 crore, up 8.7 per cent YoY, were slightly lower than expectations of Rs 48,602 crore. Sequentially, revenues jumped 35 per cent. “The revenue gro­wth on a YoY basis was evid­encing ret­urn to pre Covid levels of activity. The international revenues at Rs 15,851 crore constituted 33 per cent of the total revenue,” L&T said in its release.