L&T shares end nearly 3% up as Q3 profit rises

Shares of Larsen & Toubro today ended nearly 3 per cent higher after the company posted a 22.44 per cent jump in standalone net profit for the December quarter.
After gaining 3.84 per cent to Rs 1,043.40 on the BSE in intra-day trade, Larsen's scrip finally ended at Rs 1,033, up 2.81 per cent.
At the NSE, the stock settled 2.66 per cent up at Rs 1,031.50.
The stock was the top gainer among the blue-chips on both Sensex and Nifty.
Larsen & Toubro had yesterday posted a 22.44 per cent increase in standalone net profit at Rs 1,240.7 crore in the December quarter and lowered its guidance for order inflows, saying it would be challenging to meet the revenue target due to macroeconomic headwinds.

The engineering major had estimated 15 per cent increase in sales and 20 per cent growth in order inflows at the start of this financial year.
L&T had reported a profit of Rs 1,013.23 crore in the December quarter of the previous financial year. Net sales rose 11.8 per cent to Rs 14,387.51 crore in the third quarter from Rs 12,869.34 crore in the corresponding period.