Shares of Larsen & Toubro (L&T) surged nearly 12 per cent in early trade on Thursday after the company reported an 18.5 per cent jump in consolidated net profit at Rs 2,453.6 crore for the March quarter.
Opening on a positive note, the stock jumped 11.31 per cent to Rs 1436.45 on BSE.
At NSE, the scrip soared 12.10 per cent to Rs 1,448.
Larsen & Toubro (L&T) on Wednesday reported an 18.55 per cent growth in consolidated net profit at Rs 2,453.6 crore for the quarter ending March 2016 on the back of higher income driven by the infrastructure segment.
The company had clocked a net profit of Rs 2,069.6 crore in the corresponding quarter of 2014-15, it said in a BSE filing.
Total income of the engineering and construction firm rose 18.3 per cent to Rs 33,157 crore in the January-March quarter, from Rs 28,022.6 crore in the same quarter in 2014—15.
For the whole year, Larsen & Toubro’s consolidated net profit increased 6.8 per cent to Rs 5,090.5 crore as against Rs 4,764.8 crore in 2014-15.
“Larsen & Toubro recorded consolidated gross revenue of Rs 1,03,522 crore for the year ended March 31, 2016, registering an increase of 12 per cent over the previous year.
The international revenue during the year at Rs 33,302 crore constituted 32 per cent of the total revenue,” the company said.
