Larsen & Toubro gains 6% as Q2 profit beats estimate

The stock was up 6% to Rs 1,379 on the BSE in early morning trade after the company reported 23% Y-o-Y jumped in its consolidated net profit at Rs 22.30 billion in September quarter.

Shares of Larsen & Toubro ((L&T) were up by 6% at Rs 1,379 per share on the BSE in early morning trade after the company reported 23% year-on-year (Y-o-Y) jump in its consolidated net profit at Rs 22.30 billion in September quarter (Q2FY19). The consolidated gross revenue during the quarter grew 21% at Rs 320.81 billion on a Y-o-Y basis.

Analysts on an average had expected a profit of Rs 17.35 billion and revenue of Rs 297 billion for the quarter. The consolidated earnings before interest, taxation, depreciation and ammortisation (Ebitda) at Rs 38 billion, up 27% Y-o-Y, was ahead