Jobaaj Stories
The stock of infra giant L&T fell around 5% today during the early trading hours as investors set the stock on their selling counter after the company reported lower-than-estimated figures for the earnings relating to Q4 of FY23.
For the quarter ended in March 2023, the company’s revenues grew 10.4% YoY to Rs 58,335 crores. However, the same was up 26% on a sequential basis as the company had lower revenues in the December quarter. EBITDA grew 5% to Rs 6,830 crores, but EBITDA margin fell 60 bps to 11.7%. Consolidated PAT for the quarter was Rs 4,447 crores, up 11% YoY.
For the period of 1 year ended in March 2023, the company’s revenues improved by 17% to reach Rs 1.83 lakh crores, showing the highest growth in 5 years. The contribution of international revenues improved from 33% last year to 39% during FY23. Revenues from all segments saw impressive growth as the Infrastructure segment accounted for a majority of L&T’s revenues.
The order inflow exceeded Rs 2 trillion during the year, while the company’s order book was close to Rs 4 trillion, both of which were the company’s record highest. Total expenses surged around 17.2% to Rs 1.69 lakh crores which translated to an operating margin of 11.32%, down 31 bps YoY. EBITDA improved by 14% to Rs 20,750 crores, but the EBITDA margin was down 30 bps during the year.
Profit for the year grew 23% YoY to Rs 12,625 crores, up 23% YoY, against Rs 10,291 crores reported in the corresponding period last year, with a net profit margin of 5.71%, up 17 bps on an annual basis.
The Board of the company has recommended a dividend of Rs 24 per share for FY23. At the time of reporting, the stock of L&T was trading around Rs 2,252 per share, down 4.8%.
- Aman Agarwal
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