L

New Delhi, May 29 (UNI) Construction and engineering major Larsen&Toubro Ltd (L&T) today said its net profit went up 50.10 per cent at Rs 700.77 crore during the January-March quarter from Rs 466.85 crore for the quarter ended March 31, 2006.

Supported by more orders from local and foreign clients, the company's total income during Q4FY07 increased 25.88 per cent to Rs 6,452.38 crore from Rs 4,782.46 crore during Q4FY06.

The Board of Directors of L&T also recommended a final dividend of Rs 2 per share which together with the interim dividend of Rs 11 per share declared on March 13, 2007, works out at Rs 13 per share, a statement said.

Its annual profit after tax stood at Rs 1,403.02 crore as compared to Rs 1012.14 crore for the year ended March 31, 2006.

Total income during 2006-07 went up to Rs 18,041.13 crore from Rs 15,198.63 crore for the year ended March 2006.

L&T, which has operations ranging from manufacturing to software services, also announced the appointment of Mr N Mohan Raj as Director representing Life Insurance Corporation of India, in place of Mr Kranti Sinha, who had resigned earlier.

The company stated that the resignation of Mr B P Deshmukh representing General Insurance Corporation of India has been accepted.

UNI