L&T Q3 results: Net profit rises 24% to Rs 2,553 cr, rev beats estimates

Bloomberg consensus estimates had pegged L&T's net profit for Q3 at Rs 2,570 crore, reveals data compiled by BS Research Bureau

Engineering major Larsen & Toubro (L&T) on Monday reported a consolidated net profit of Rs 2,553 crore for the October-December quarter (third quarter, or Q3) of 2022-23 (FY23), up 24.2 per cent from a year ago, aided by exceptional gains of Rs 97 crore due to a profit on the divestment of the mutual fund business.

When adjusted for a one-time charge on the re-measurement of wholesale loan assets of financial services, net profit stands at Rs 2,456 crore — a growth of 20 per cent over the year-ago period.

Bloomberg consensus estimates had pegged L&T’s net profit for Q3