Larsen & Toubro Announces Dividend Of Rs 34 Per Share
L&T reported a 25% rise in consolidated net profit for the fourth quarter of the last financial year, surpassing analysts' estimates.
Larsen & Toubro Ltd.'s board of directors recommended a final dividend of Rs 34 per share at a face value of Rs 2 each for the financial year ended March 31, 2025, according to an exchange filing on Thursday.
The proposed dividend will be paid after the approval from the shareholders in the annual general meeting. The record date is fixed as June 3, it said.
Last year, the company announced a final dividend of Rs 28 per share.
L&T Q4 Performance
Larsen & Toubro Ltd. reported a 25% rise in consolidated net profit for the fourth quarter of the last financial year, surpassing analysts' estimates.
The company recorded a profit of Rs 5,497 crore for the January-March period. Analysts tracked by Bloomberg had estimated the net profit at Rs 4,545 crore.
Shares of L&T closed 0.08% higher at Rs 3,323.90 apiece on the NSE, compared to a 0.58% fall in the benchmark Nifty. The stock has fallen 4.67% in the last 12 months and 7.87% on a year-to-date basis.
Out of 35 analysts tracking the company, 28 have a 'buy' rating on the stock, four recommend 'hold' and three suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 18.4%.
