Apr 16, 2021By: Rounak Jain
The company’s consolidated profit was almost flat quarter-on-quarter in the March 2021 quarter, growing by 0.1 percent to ₹2,972 crore.
The company bagged a ₹333 crore project from Gujarat Rail Infrastructure Development Corporation.
It will collaborate with the government’s Common Services Arm to set up solar-powered micro grids along with water pumps in rural areas.
The government has floated a request for proposal to divest 20 percent stake in the company through an offer for sale (OFS).
Investment banker Goldman Sachs has raised its stake in the company to 1.88 percent in March 2021, up from 1.33 percent in the previous quarter.
It reported a growth of 6.5 percent in its operating revenue to ₹442 crore in FY 2020-21 when compared to the previous year.
It has received re-affirmation of A Plus rating for its long-term bank facilities with stable outlook from CARE Ratings.
The company’s board will meet on May 5 to consider the final dividend for FY 2020-21.
The L&T group company is all set to announce its March 2021 earnings today.
The company announced its plans to transform its steel tube making facility in the UK.