Shares Of Larsen & Toubro Rose 2 Percent In The Opening Trade On Thursday

Shares of Larsen & Toubro (L&T) rose 2 percent in the opening trade on Thursday on the back of robust numbers declared by the company in the quarter ended June 2018 (Q1FY19).

The company posted a 13.8 percent year-on-year (YoY) increase in consolidated net profit at Rs 1,213 crore, beating analyst estimates driven by order inflow
growth in infrastructure, heavy engineering and hydrocarbon segments.

Profit for the same period last year was Rs 1,065.54 crore. The Q1FY19 profit was aided by one-off gain of Rs 355 crore from divestment of Kattupalli port to Adani group.

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