Engineering and infrastructure conglomerate Larsen & Toubro (L&T) has posted a 10.3% rise in consolidated net profit at Rs 4,396.12 crore for the fourth quarter that ended March on a rise in orderbook inflows and continued execution momentum. The net profit came above Street estimates of Rs 4,018 crore.

In comparison, the engineering and infrastructure conglomerate had posted a net profit of Rs 3,986.78 crore for the same period of the previous fiscal. The company’s board recommended a final dividend of Rs 28 per share.

During the reporting quarter, L&T’s consolidated revenue from operations rose 15% to Rs 67,078.68 crore from Rs 58,335.15 crore recorded during the same period a year ago. Its Ebitda rose 5.9% to Rs 7,234 crore from year-ago quarter, the company said in a statement.

A consensus estimate of Bloomberg analysts was expecting the firm to post a net profit of Rs 4,018 crore, on revenues of Rs 65,869 crore and an Ebitda of Rs 7,157 crore.

“The year has concluded on a very strong note for us. We have secured order inflows of more than Rs 3 trillion and our order book is about Rs 4.75 trillion, reflecting the continued trust reposed on us by all our esteemed clients. During the year, we successfully completed the maiden buyback of equity shares, in line with our aim to improve shareholder value,” L&T CMD SN Subrahmanyan said.

“The tailwinds of India’s economic growth will continue due to the impact of structural reforms, strengthening physical and digital infrastructure, improving institutional strength and strong governance,” he added.

For the quarter, the company had an exceptional gain of Rs 93.61 crore, attributed to the divestment of stake in L&T Infrastructure Development Projects {L&T IDPL). On April 10, L&T concluded the sale of its stake in L&T IDPL, a joint venture, primarily engaged in the development and operation of toll roads and power transmission assets.

For the 12-month period ended March 31, L&T posted a 25% YoY rise in consolidated net profit at Rs 13,059 crore, while revenue rose 21% to Rs 2.21 trillion.

In FY24, L&T won orders worth Rs 3.03 trillion at the group level, a 31% rise from the year-ago period, from multiple segments such as onshore & offshore verticals in hydrocarbon, metros, urban transit systems and others, L&T CFO R Shankar Raman said in the post-earnings media briefing.

However, the order inflow for the quarter dipped 5% to Rs 72,150 crore. The company’s consolidated order book stood at Rs 4.75 trillion as of March end.

The order inflow guidance for FY25 would be 10%, Raman said, adding that L&T intends to focus on bigger contracts worth $1 billion. Taking about Hyderabad metro, he said that ridership has been hit as IT professionals prefer work from home.

Separately, S&P Global Ratings has assigned a ‘BBB+’ rating with a stable outlook to L&T.