Larsen & Toubro shares climb over 5% on rise in Q3 profit

Shares of engineering major Larsen & Toubro (L&T) on Monday rose by over 5% after the company reported 19% increase in consolidated net profit for the third quarter (Q3) ended December 31.

The stock gained 5.15% to Rs 1,159 on BSE.  At 1315 hours, the stock of the company was down from the day's high, trading up 1.71% or Rs 18.80 at Rs 1,121.00 intraday on the BSE. 

The company had clocked a net profit of Rs 866.5 crore in the year-ago period.Larsen and Toubro (L&T) on Friday reported 19% jump in consolidated net profit to Rs 1,034.8 crore for the third quarter (Q3) on the back of improved sales, driven by execution of contracts from international markets.

At NSE, shares of the company climbed 5.2% to Rs 1,158.95.

Total income rose by 8% to Rs 25,829.3 crore in the October-December period from Rs 23,847.9 crore during the same quarter in FY15.

L&T won orders worth Rs 38,528 crore at the group level during the quarter. The international order inflow during the quarter at Rs 11,115 crore constituted 29% of the total order inflow.