The stock advanced 2.67 per cent to settle at Rs 1,797.20 apiece on the BSE. During the day, it jumped 3.91 per cent to Rs 1,819.
PTI
July 27, 2022 / 05:38 PM IST
L&T Infotech | CMP: Rs 3,972 | The scrip added over 2 percent after the firm reported a consolidated profit after tax (PAT) of Rs 633.50 crore for the quarter ended June 2022, up 27.64 per cent from Rs 496.30 crore a year ago. On a sequential basis, profit for the quarter was almost flat compared to the reported profit of Rs 637 crore in the March quarter. Brokerage firm Nomura has however maintained reduce rating on the stock with a target at Rs 3,680 per share. It was a modest beat in Q1, with robust headcount addition continues, the brokerage added.
Shares of Larsen & Toubro (L&T) climbed nearly 3 per cent on July 27 after the company’s consolidated net profit increased nearly 45 per cent in the June quarter this year.
The stock advanced 2.67 per cent to settle at Rs 1,797.20 apiece on the BSE. During the day, it jumped 3.91 per cent to Rs 1,819. On the NSE, it climbed 2.52 per cent to Rs 1,795.40 apiece. The company’s market valuation also jumped Rs 6,577.96 crore to Rs 2,52,540.96 crore on the BSE.
On July 26, engineering and construction conglomerate Larsen & Toubro said its consolidated net profit increased 44.9 per cent to Rs 1,702.07 crore in the June 2022 quarter due to higher revenue from operations. The company had posted a consolidated net profit of Rs 1,174.44 crore in the year-ago period, L&T said in a regulatory filing on July 26.
The consolidated revenue from operations of the company during April-June period increased to Rs 35,853.20 crore from Rs 29,334.73 crore in the year-ago period, the filing added.
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