Business
The company reported an 18.5% jump in consolidated net profit at Rs 2,453.6 crore for the March quarter.
Updated : Mar 21, 2018, 06:33 AM IST
Shares of Larsen & Toubro (L&T) surged nearly 12% in early trade on Thursday after the company reported an 18.5% jump in consolidated net profit at Rs 2,453.6 crore for the March quarter.
Opening on a positive note, the stock jumped 11.31% to Rs 1436.45 on the BSE. At the National Stock Exchange (NSE), the scrip soared 12.10% to Rs 1,448.
Larsen & Toubro (L&T) on Wednesday reported an 18.55% growth in consolidated net profit at Rs 2,453.6 crore for the quarter ending March 2016 on the back of higher income driven by the infrastructure segment.
The company had clocked a net profit of Rs 2,069.6 crore in the corresponding quarter of 2014-15, it said in a BSE filing.
Total income of the engineering and construction firm rose 18.3% to Rs 33,157 crore in the January-March quarter, from Rs 28,022.6 crore in the same quarter in 2014-15.
For the whole year, Larsen & Toubro's consolidated net profit increased 6.8% to Rs 5,090.5 crore as against Rs 4,764.8 crore in 2014-15.
"Larsen & Toubro recorded consolidated gross revenue of Rs 1,03,522 crore for the year ended March 31, 2016, registering an increase of 12% over the previous year. The international revenue during the year at Rs 33,302 crore constituted 32% of the total revenue," the company said.