Larsen & Toubro shares gain nearly 4% as Q3 profit rises

Jan 23 2014, 22:02 IST
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Engineering major Larsen & Toubro has reported a profit after tax of Rs 1,241 crore for December quarter, up 22% y-o-y. Engineering major Larsen & Toubro has reported a profit after tax of Rs 1,241 crore for December quarter, up 22% y-o-y.
SummaryLarsen & Toubro reported a good set of numbers for three months to December 2013, with revenues of Rs 14,387 cr.

Shares of Larsen & Toubro (L&T) today rose nearly 4 per cent after the company posted a 22.44 per cent increase in standalone net profit for the December quarter.

After making a positive opening, the stock further gained 3.84 per cent to Rs 1,043.40 on the BSE.

At the NSE, it jumped 3.84 per cent to Rs 1,043.40. The stock was the top gainer among the blue-chips on both Sensex and Nifty during the morning trade.

Larsen & Toubro had yesterday posted a 22.44 per cent increase in standalone net profit at Rs 1,240.7 crore in the December quarter and lowered its guidance for order inflows, saying it would be challenging to meet the revenue target due to macroeconomic headwinds.

The engineering major had estimated 15 per cent increase in sales and 20 per cent growth in order inflows at the start of this financial year.

L&T had reported a profit of Rs 1,013.23 crore in the December quarter of the previous financial year. Net sales rose 11.8 per cent to Rs 14,387.51 crore in the third quarter from Rs 12,869.34 crore in the corresponding period.

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