"The Board decided to honor, with a special dividend - One for Each Magnificent Decade -in which Mr Naik transformed L&T.The Rs 6 dividend to shareholders is only a token of our affection, esteem, and, most importantly, gratitude towards A M Naik," SN Subrahmanyan said.
L&T targets consolidated inflows of 14 per cent and revenue growth of 15 per cent, which, along with improved performance in the financial services business, is vital to delivering targeted RoE, a brokerage said.
Larsen and Toubro (L&T) will consider a share buyback at its board meeting on 25 July. L&T board is also meeting that day to approve the results for the June quarter. In the meantime, the company also announced that its board has approved the merger of two of its wholly-owned subsidiaries - L&T Innovation Campus (Chennai) Limited with L&T Seawoods Limited.
Larsen & Toubro (L&T) reported a 10% YoY increase in profit after tax (PAT) of Rs 3,987 crore for the quarter ended March 31, 2023. The board approved a final dividend of Rs 24 per equity share. The engineering company's total consolidated PAT for FY23 was Rs 10,471 crore, a growth of 21%., Companies News, Times Now