New Delhi: Larsen and Toubro (L&T) shares rose 4 per cent on Monday, after the company registered a 46 per cent jump in consolidated net profit for the April-June quarter. The stock gained 4 per cent to Rs. 1,206 on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), it rose 3.96 per cent to Rs. 1,207.50. Engineering and construction conglomerate Larsen and Toubro on Friday registered a 46 per cent jump in consolidated net profit to Rs. 893 crore for the first quarter ended June 2017.
The company, which said the first quarter saw lower economic growth in the country in the aftermath of
demonetisation, had clocked a consolidated net profit of Rs. 610 crore in the same period of the previous fiscal year.
“Consolidated profit after tax (PAT) for the quarter ended June 30, 2017, at Rs. 893 crore was higher by 46 per cent vis-a-vis PAT of Rs. 610 crore for the corresponding quarter of the previous year,” the company said in a statement.
L&T recorded a consolidated gross revenue of Rs. 23,990 crore for the quarter under review, registering an increase of 10 per cent on a year-on-year basis.