Larsen & Toubro shares climb nearly 3% after strong earnings announcement

Larsen & Toubro posted a 12 per cent rise in consolidated profit after tax to ₹2,786 crore in the June quarter, on the back of higher revenues.

Shares of Larsen & Toubro climbed nearly 3 per cent after the company posted a 12 per cent rise in consolidated profit after tax (PAT) in the June quarter. The stock jumped 2.74 per cent to ₹3,616.10 on the BSE.

L & T, Larsen and Toubro hoarding in Mumbai.

At the NSE, it went up by 2.71 per cent to ₹3,614.95 apiece.

This comes as Larsen & Toubro posted a 12 per cent rise in consolidated profit after tax to ₹2,786 crore in the June quarter, on the back of higher revenues.

The company has achieved consolidated revenues of ₹55,120 crore for the first quarter of the current fiscal, registering a year-on-year growth of 15 per cent with a robust execution witnessed in the projects and manufacturing portfolio on the back of a large order book, Larsen and Toubro said in a statement.

International revenues during the quarter at ₹26,248 crore constituted 48 per cent of the total revenues.

Further, the company received orders worth ₹70,936 crore at the group level during the quarter, registering a growth of 8 per cent, aided by the strong ordering momentum in the Middle East.