L&T shares gain over 3 pc on Q3 results

Shares of Larsen & Toubro on Thursday jumped over 3 per cent, a day after the engineering major posted a 15 per cent rise in consolidated net profit for the December 2019 quarter. On the BSE, the stock touched a high of Rs 1,339.50, up 3.49 per cent over its previous close.

On the NSE, the scrip rose 3.52 per cent to trade at Rs 1,339.85. The company on Wednesday reported a 15 per cent rise in its consolidated net profit at Rs 2,560.32 crore for quarter to December 2019, helped by higher revenues from international contracts.

The company had posted a consolidated profit after tax of Rs 2,218.68 crore in the same period a year ago. Its consolidated total income during October-December increased to Rs 36,717.60 crore, against Rs 34,823.08 crore in Q3 FY19.