L&T shares surge nearly 4% on back of 48% jump in Q3 consolidated profit

Shares of Larsen and Toubro (L&T) on Thursday surged nearly 4 per cent after the company reported a 48.41 per cent jump in consolidated net profit for the third quarter ended December 31, 2017.

The stock gained 3.74 per cent to touch its one-year high of Rs 1,469.60 on BSE.

Similarly, shares of the company went up by 3.77 per cent to Rs 1,470 on NSE.

The infrastructure giant yesterday reported 48.41 per cent jump in consolidated net profit at Rs 16.18 billion for the third quarter ended December 31, 2017.

It had posted a net profit of Rs 10.90 billion in October- December quarter in the year-ago period, L&T said in a filing to the BSE.

L&T's total income was up 9.03 per cent during the quarter under review at Rs 289.6 billion, against Rs 265.61 billion in the corresponding quarter.