Larsen & Toubro slips 2% post December quarter results

The company bagged orders worth Rs 50,359 crore during Q3, down 31% YoY, as the previous year had the benefit of the company securing its biggest ever EPC contract for Mumbai Ahmedabad High Speed Rail

Shares of Larsen & Toubro (L&T) slipped 2.5 per cent to Rs 1,851 on the BSE in Monday’s intra-day trade after the company reported a 17 per cent year-on-year (YoY) decline in consolidated net profit at Rs 2,055 crore for the December quarter (Q3) as high raw material costs ate into the bottom line even as net sales rose.

The stock of the country’s largest infrastructure company traded lower for the third straight day, down 4 per cent during the period. It had hit a record high of Rs 2,078 on January 18, 2022. At 09:37 am; L&T erased