L&T rose 2.76% to Rs 1,365.90 at 9:15 IST on BSE after consolidated net profit jumped 84.31% to Rs 1434.63 crore on 8.73% growth in total income to Rs 25491.96 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 22 November 2016.Meanwhile, the BSE Sensex was up 74.94 points, or 0.29%, to 26,035.72.
On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 2.57 lakh shares in the past one quarter. The stock hit a high of Rs 1,374.40 and a low of Rs 1,353 so far during the day. The stock hit a 52-week high of Rs 1,615 on 27 July 2016. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 22 November 2016, falling 11.06% compared with the 7.87% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 9.76% as against Sensex's 7.48% decline.
The large-cap engineering & construction major has equity capital of Rs 186.47 crore. Face value per share is Rs 2.
The company's consolidated profit after tax (PAT) before exceptional items rose 41% to Rs 1032 crore in Q2 September 2016 over Q2 September 2015. As a part of implementation of its strategic plan, the company has divested the General Insurance business. Gross revenue on consolidated basis rose 8.2% to Rs 25011 crore in Q2 September 2016 over Q2 September 2015. Consolidated order inflow increased by 11% year on year (YoY) to Rs 31119 crore in Q2 September 2016. International orders constituted 24% of the total order inflow. Consolidated order book stood at Rs 251773 crore as on 30 September 2016, higher by 4% on YoY basis. International order book constituted 29% of the total order book.
On the business outlook, L&T said, it has integrated range of comprehensive offerings in its various operating segments and is implementing its strategic plan of profitable growth and higher return on equity. On the international front, the company continues to strengthen its position and pursue select prospects in the core infrastructure and energy sector. L&T said, it is well placed to benefit from the emerging opportunities and sustain its leadership position across the sectors.
L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.
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