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  1. L&T shares up nearly 3% after company posted 46% rise in Q1 net profit

L&T shares up nearly 3% after company posted 46% rise in Q1 net profit

Shares of Larsen and Toubro (L&T) today ended with nearly 3 per cent gains after the company registered a 46 per cent jump in consolidated net profit for the first quarter through June.

By: | Published: July 31, 2017 5:22 PM
At NSE, shares of the company went up by 2.8 per cent to close at Rs 1,193.95. (Image: Reuters)

Shares of Larsen and Toubro (L&T) today ended with nearly 3 per cent gains after the company registered a 46 per cent jump in consolidated net profit for the first quarter through June. The stock gained 2.85 per cent to settle at Rs 1,192.10 on BSE. During the day, it rose by 4 per cent to Rs 1,206. At NSE, shares of the company went up by 2.8 per cent to close at Rs 1,193.95.

On the volume front, 3.82 lakh shares of the company were traded on BSE and over 50 lakh shares changed hands at NSE during the day. Engineering and construction conglomerate Larsen and Toubro on Friday registered a 46 per cent jump in consolidated net profit to Rs 893 crore for the first quarter ended June 2017.

The company, which said the first quarter saw lower economic growth in the country in the aftermath of demonetisation, had clocked a consolidated net profit of Rs 610 crore in the same period of the previous fiscal.

“Consolidated profit after tax (PAT) for the quarter ended June 30, 2017, at Rs 893 crore was higher by 46 per cent vis-a-vis PAT of Rs 610 crore for the corresponding quarter of the previous year,” the company said in a statement. L&T recorded consolidated gross revenue of Rs 23,990 crore for the quarter under review, registering an increase of 10 per cent year-on-year.

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