Larsen & Toubro Ltd (L&T), the country's biggest engineering and construction company, has managed to achieve a growth of 3.3% in its financial fourth-quarter net profit on the back of improved margins and higher sales.

The company posted a profit after tax (PAT) of Rs 998.52 crore for the fourth quarter ended March 31, 2009 as compared with Rs 966.76 crore for the same period in
2007-08.

Further, total income of the company for the quarter has also jumped to Rs 10,835.79 crore from Rs 8,737.21 crore in the year-ago period.

For the year ended March 31, 2009, the company made a profit after tax of Rs 3,481.66 crore against Rs 2173.42 crore, previous fiscal.

The total income of the company surged to Rs 34,666.15 crore, compared with Rs 25,442.57 crore, last year.

The company's consolidated net profit for 2008-09 stood at Rs 3,789.46 crore, up 63% from Rs 2,325.36 crore recorded the year before.

Apart from announcement of results, the Board of Directors of the Company at its meeting held on May 28 has recommended a dividend of Rs 10.50 per share.

L&T expects to achieve a growth of 15% to 20% in its revenue for the current financial year.

At 1:00 pm, the shares of the company were trading at Rs 1393, up 4% compared to its previous close.