Larsen & Toubro Shares Climb Nearly 3% After Earnings Announcement

New Delhi: Shares of Larsen & Toubro on Thursday ended nearly 3 per cent higher after the company posted a 12 per cent rise in consolidated profit after tax (PAT) in the June quarter.

The stock rallied 2.94 per cent to settle at Rs 3,623 on the BSE. During the day, it jumped 3.15 per cent to Rs 3,630.55.

At the NSE, it went up by 2.91 per cent to Rs 3,622 apiece.

The company's market valuation surged Rs 14,243.43 crore to Rs 4,98,107.47 crore.

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

The company has achieved consolidated revenues of Rs 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 Rs 26,248 crore constituted 48 per cent of the total revenues.

Further, the company received orders worth Rs 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.