Larsen & Toubro's Stock Soars As Profits Surge in June Quarter

Shares of Larsen & Toubro surged nearly 3 per cent after the company reported a 12 per cent increase in consolidated profit for the June quarter. The company's market valuation jumped significantly, aided by robust revenue growth and strong international orders.

Shares of Larsen & Toubro soared nearly 3 per cent on Thursday following the announcement of a 12 per cent rise in consolidated profit after tax (PAT) for the June quarter.

The stock closed at Rs 3,623 on the BSE, after peaking at Rs 3,630.55 during the trading session. Meanwhile, on the NSE, it ended at Rs 3,622 apiece, reflecting a 2.91 per cent increase.

The market valuation of the company surged by a whopping Rs 14,243.43 crore, reaching Rs 4,98,107.47 crore. Larsen & Toubro announced that it achieved consolidated revenues of Rs 55,120 crore, marking a 15 per cent year-on-year growth. The company's strong performance was driven by a robust execution in its projects and manufacturing portfolio, bolstered by an extensive order book.

International revenues constituted 48 per cent of the total, amounting to Rs 26,248 crore for the quarter. Additionally, the company secured orders worth Rs 70,936 crore at the group level, reflecting an 8 per cent growth, predominantly spurred by substantial demand in the Middle East.