Shares of Larsen and Toubro Ltd. (L&T) , fell over 3% with the stock trading Rs 3909.30 as soon as the markets opened on Wednesday. This comes after L&T reported a 3% drop in consolidated profit after tax (PAT) to Rs 5,326 crore during the March quarter in FY26, mainly due to a high-base effect from previous exceptional gains. The company posted a consolidated PAT of Rs 5,497 crore in the year-ago period, L&T said in a filing to the BSE.
The decline was largely due to a high base, as the corresponding quarter last financial year included an exceptional gain of Rs 475 crore. "The total consolidated PAT for the quarter was at Rs 5,326 crore, reflecting a decline of 3 per cent. The year-on-year decline in consolidated PAT is primarily attributable to an exceptional gain (net of tax & NCI) of Rs 475 crore in the previous year," the filing said.
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Larsen & Toubro is a $32-billion Indian multinational engaged in engineering, procurement and construction projects, hi-tech manufacturing and services, operating across multiple geographies.
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L&T Share Price Today
L&T Share Price Today
Photo Credit: (Photo: NDTV Profit)
The scrip fell as much as 3.81% on Wednesday with the stock trading Rs 3,931.30 at 9:35 a.m. This compares to a 0.55% rise in the NSE Nifty 50 Index.
It has risen 18.03% in the last 12 months and has fallen 3.62% year-to-date. Total traded volume so far in the day stood at 3.73 times its 30-day average. The relative strength index was at 57.01.
Out of 34 analysts tracking the company, 27 maintain a 'buy' rating, six maintain a "hold", and one maintain a "sell" rating, according to Bloomberg data. The average 12-month consensus price target of Rs 4489.63 implies an upside of 14%.
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