L&T gains 2% post December quarter results; analysts see further upside

Shares of Larsen & Toubro (L&T) rose 2 per cent to Rs 1,393 on the BSE in intra-day trade on Wednesday after the company reported better-than-expected December quarter numbers. The consolidated net profit during the said quarter stood at Rs 2,467 crore, up nearly 5 per cent from the same period last year. On a consolidated basis, adjusted revenues from continuing operations fell 1.8 per cent YoY to Rs 35,596 crore.

At 09:20 am, the construction and engineering company’s stock was trading 1 per cent higher at Rs 1,375 as against a 0.53 per cent decline in the S&P BSE Sensex. The scrip hit a 52-week high of Rs 1,396 on Monday, January 25.