India's biggest engineering and construction firm Larsen & Toubro Ltd (L&T) announced its quarterly results showing a 29.5% increase in its consolidated net profit, and a rise in gross revenue of 12% for Q4. The growth beat market expectations, with consolidated net profit for iQ4 rising to Rs 3025 crore from Rs 2335 crore in the same quarter last year. Analysts had expected a consolidated net profit of approximately Rs. 2650 crore.
L&T;s order book is up 5% from a year ago, slightly lower than its own projections for order inflow. Its international order book constituted 27% of the total orders on book. The firm has announced one bonus share for every two held, apart from a dividend of Rs 21 per share. The company's share price has hit a new year high in the lead up to results - it has been riding the wave of Sensex's rise over the last week.