Shares of Larsen & Toubro Infotech Ltd (LTI) gained nearly 7 per cent on Thursday after the company posted a 17.06 per cent year-on-year growth in its June quarter net profit.
The stock rose by 6.58 per cent to a one-year high of ₹2,340 on the BSE.
On the NSE, it jumped 6.62 per cent to its 52-week high of ₹2,336.
LTI on Wednesday posted a 17.06 per cent growth in its June quarter net profit at ₹416.4 crore but acknowledged that it is a challenging time for the industry at present.
When compared to the previous quarter, the profit declined 2.59 per cent as conditions became tough.
Its overall revenues rose to ₹3,015 crore from the year-ago period’s ₹2,586 crore, but were marginally down as compared to the preceding March quarter’s ₹3,082 crore.