After the Q2 financial results of Larsen & Toubro (L&T) on October 30, the shares of the company on Thursday (October 31) saw a surge in its stock prices.
The company's stock on Thursday reported a spike of over 6 per cent on the BSE during the trading hours.
By 12:24 pm IST, the shares of the company were trading at Rs 3,643.70 apiece, up by 6.91 per cent.
The shares today during the intraday trading reached an intraday high of Rs 3,654.95. The infrastructure giant emerged as the top gainer on the BSE Sensex, with its stock rising from an opening price of Rs 3,530 to highs above Rs 3,600 on both the BSE and NSE.
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The surge in the stock prices of the company was in response to the the company's financial performance for the quarter ended September 30, 2024 were it reported a steady growth in its profits and revenue.
Financial Overview
For the quarter ended September 30, 2024, L&T posted a 5 per cent surge in consolidated profit after tax (PAT), amounting to Rs 3,395 crore. This was an improvement from Rs 3,223 crore in the same period last year.
The company’s consolidated income grew to Rs 62,655.85 crore, up from Rs 52,157.02 crore in Q2 of the previous year, a spike of over 20 per cent year-on-year.
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L&T’s international operations revenue from overseas projects also accounted a growth of Rs 32,057 crore, up 52 per cent of its total income.
In terms of new projects, L&T’s order book added Rs 80,045 crore in Q2, a sequential growth of 13 per cent over the previous quarter.
However, compared to last year’s Q2, there was a slight dip in orders, showing a year-on-year decline of about 10 per cent.