Engineering and construction major Lar­sen & Toubro (L&T), on Friday, announced a consolidated net profit of Rs 3,293 crore for Q4, increased by 3% year-on-year (YoY) on higher revenues and growth in other income. The reported net profit was higher than the Bloomberg consensus estimation of Rs 3,042 crore, des­pite the 116% YoY surge in tax expenses to Rs 2,087 crore. In Q4, net sales at Rs 48,088 crore, increased by 8.7% YoY, were slightly lower than expectations of Rs 48,602 crore. Revenues increased by 35% simultaneously. L&T, in its report, stated that the revenue growth on a YoY basis was experiencing a return to pre-Covid levels of movement. The International revenues of Rs 15,851 crore comprised 33% of the total revenue. The new orders obtained during Q4 were at Rs 50,651 crore, decreased by 12% YoY with the postponement of awards. Factories, met­ros, nucl­ear power, hydel and tunnel, rural water, special bridges, metal sector, hydrocarbon offshore and minerals and renewable energy, committed significantly to the orders during the span. International orders at Rs 18,439 crore are at 36% of total order inflow, with the release of the biggest solar PV pla­nt order and transmission line orders, stated the company. Among business verticals, the infrastructure and IT and technology services provided the most in Q4 in terms of revenue at Rs 26,437 crore and Rs 6,845 crore, sequentially. Information Technology and Telecommunications Services (ITTS) posted a solid 33.5% increase in profit. All verticals posted a YoY increase in revenue, while most (excluding power and developmental projects) observed a profit rise. The group’s EBITDA (barring other income) at Rs 6,390 crore, rose 25% from the same period last year. For the year ended March 31, 2021 (FY21), combined revenue from resuming operations at Rs 135,979 crore was decreased by 6% YoY due to loss because of lockdown associated disorders in the first half of FY21 along with new measures of social distancing, etc. The company notified that supply chain interruptions affecting project implementation progress, though with decreasing severity, throughout the year have also destroyed the top-line at the group level. L&T received orders worth Rs 175,497 crore at the group level in FY21, decreased by 6% YoY in light of the second wave of Covid-19 in the first half. Considering the migration issues amid the ongoing second wave, in March, the company did have a labour workforce of 245,000, but some have gone back to their states and have not returned. In a request to alleviate migration, L&T is making efforts to convince workers concerning their protection. Image SourceAlso read: ITD Cementation stocks soar after receiving Rs 950 cr order Also read: Covid-19 second wave may not impact overall construction activities: ICRA