By IANS,
Mumbai : Engineering giant Larsen & Toubro (L&T) has notched an increase of Rs.7.7 billion in net profits in 2007-08 compared to the previous financial year.
The company has clocked a profit after tax of Rs.21.7 billion for the year ended March 31, 2008, as compared to Rs. 14 billion last year, it was announced here Thursday.
Its total income increased from Rs.180.6 billion for the year ended March 31, 2007 to Rs.254.4 billion, an increase of Rs. 73.7 billion.
Buouyed by the results, the company’s board of directors has decided to issue bonus shares in the ratio of 1:1.
It has also recommended a dividend of Rs.15 per share plus a special dividend of Rs.2 per share, working out to a total of Rs.17 per share, as compared to last year’s Rs.13 per share.