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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • After euphoric rally, Q4 numbers will show the ugly belly of India Inc

    In the last one year, equity indices have clocked spectacular gains.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Today's Columns

Taslima Nasreen

Where priorities play googly

Many say that to keep India’s hopes alive in the ...

Purnendu Ghosh

Be afraid of how you spend your anger

To develop a cost effective product in a techno-bulged industry ...

Shona Adhikari

Anjolie Ela Menon, the storyteller, is back

Anjolie Ela Menon, one of India’s most celebrated artists, is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture