L&T slumps after adjusted profit lags estimates

Tags: Companies
Shares in conglomerate Larsen and Toubro slump more than 5 percent on Wednesday after the company's April-June net profit, adjusted for exceptional items worth 2.49 billion rupees, missed estimates.

Exceptional gain represents gain on divestment of a strategic investment and stake in subsidiary companies, the company said in a statement on Monday.

The extent of losses in the hydrocarbons segment was also a negative surprise, analysts say.

EDITORIAL OF THE DAY

  • India’s commercial links with Britain since Company Raj will still prosper

    There is little point in shedding tears over Britain’s exit from the European Union (EU).

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Regimenting art runs counter to a creative society

For poetry makes nothing happen,” so said American poet WH ...

Zehra Naqvi

Of traitors & cadavers

There’s nothing like a book that arrests you from the ...

Dharmendra Khandal

Why drone technology doesn't work

Poaching and anti-forestry activities are a problem for forest departments ...