L&T surges after Jan-March earnings beat estimates

Shares of Larsen & Toubro surged as much as 6.8 percent in early morning trading after the company's fourth-quarter profit beat analyst forecasts with a rise of 69 percent, helped by a steep gain in revenue from its infrastructure and heavy engineering businesses, and gain from a divestment.

Net profit from continuing operations was 27.23 billion rupees ($461 million) in January-March, up from 16.1 billion rupees a year earlier, L&T said in a statement on Friday.

That compared with the 16.15 billion rupees mean of 15 analysts, according to Thomson Reuters data.

L&T shares were up nearly 5 percent at 1622 rupees as of 9:21 a.m.

EDITORIAL OF THE DAY

  • Trade policies must not ring fence specific industry sectors

    Within days of the government setting a floor price for import of steel products to thwart countries such as China from undercutting local mills, gove

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Kumar Jain

Reframe mindset to achieve excellence

Niels Bohr, the famous quantum physicist on­ce said, “The opposite ...

Kuruvilla Pandikattu

More real than the reality

Virtual reality (VR), a te­chnology that offers an un­imaginably altered ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture