Larsen & Toubro rose 1.70% to Rs 1,455.25 after the company announced good Q2 earning after market hours yesterday, 23 October 2019.
Larsen & Toubro (L&T) reported 13.31% rise in consolidated net profit to Rs 2527.26 crore on 14.67% rise in total income to Rs 36143.65 crore in Q2 September 2019 over Q2 September 2018.
Consolidated profit after tax (PAT) from continuing operations rose 10.3% to Rs 2,309 crore in Q2 September 2019 over Q2 September 2018. The overall PAT at 2,527 crore, including the PAT from discontinued operations for Q2 September 2019 grew by 13.3% over the corresponding quarter of the previous year. The parent company and some of the subsidiaries have computed their tax liability for the current year in accordance with the new provisions of Section 115BAA of the Indian Income Tax Act, applying the revised base rate of 22% escalated by the applicable surcharge and the cess.
Consolidated order book stood at Rs 303,222 crore as at 30 September 2019 with international orders constituting 22% of the total order book.
In its outlook, L&T said that the company continues to focus on selective order acquisition, efficient execution of its large order book, conservation of monetary resources, productivity enhancement through leverage of new age digital technologies and improving the return on equity.
Meanwhile, the S&P BSE Sensex was up 221 points or 0.57% to 39280.13.
On the BSE, 21,531 shares were traded in the counter so far compared with average daily volumes of 1.51 lakh shares in the past two weeks. The stock hit a high of Rs 1,466 and a low of Rs 1,450 so far during the day.
The stock hit a 52-week high of Rs 1,606.7 on 28 May 2019. The stock hit a 52-week low of Rs 1,183.4 on 23 October 2018.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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