... PAT up 39% to Rs 1,403 cr in FY07

Mumbai, May 29 | Updated: May 30 2007, 05:30am hrs
Larsen & Toubro Ltd (L&T) on Tuesday said that the companys profit after tax (PAT), including exceptional gains, stood at Rs 1,403 crore for the year ended March 31, 2007 an increase of 39% over the previous year driven by a buoyant market and a growing capital goods sector. The gross sales & service revenue from operations at Rs 17,901 crore for the fiscal registered a y-o-y growth of 20%. Reacting to the results, the L&T stock rose 4% on the BSE on Tuesday to close at Rs 1,856.50. The board of directors has recommended a final dividend of Rs 2 per equity share, which takes the total dividend for the year, including the interim dividend of Rs11/- per share already paid, to Rs 13 per equity share. For the quarter ended March 31, 2007, PAT stood at Rs 701 crore, an increase of 50 % over the corresponding quarter of the previous year. Gross sales & service revenue at Rs 6,366 crore for the quarter grew by 36% when compared with the revenue for the corresponding period of the previous year.

Excluding exceptional gains, PAT for the year ended March 31, 2007 grew by 60% while PAT for the quarter ended March 31, 2007 registered a growth of 53%.

Operating profits for the year at Rs 2,209 crore grew by 47% over the previous year.

The board of directors has recommended a final dividend of Rs 2 per equity share, which takes the total dividend for the year, including the interim dividend of Rs11/- per share already paid, to Rs 13 per equity share.

The company is also planning to invest Rs 2,000 crore in a phased manner in shipbuilding activities, AM Naik, L&Ts CMD, said.