BT Online Last Updated: July 31, 2017 | 09:42 IST
The Larsen and Toubro stock on Monday rose in early trade after the engineering and construction conglomerate reported a 46 per cent jump in consolidated net profit to Rs 893 crore for the first quarter ended June 30, 2017.
At 9:29 am, the stock of the firm was trading 3.73 percent or 43.20 points higher at 1202 level on the BSE.
It was nearing its 52-week high of 1223.28 attained on May 30, 2017 and was the top gainer on the 30 stock Sensex.
The stock hit a 52-week low of 863.97 November 9 last year. It has risen 33.43 percent or 301.27 points since the beginning of this year.
The company, which said first quarter of FY18 witnessed lower economic growth in the country in the aftermath of demonetisation, had clocked a consolidated net profit of Rs 610 crore in the corresponding quarter of previous fiscal.
"Consolidated Profit After Tax (PAT) for the quarter ended June 30, 2017 at Rs 893 crore was higher by 46 per cent compared to PAT of Rs 610 crore for the corresponding quarter of the previous year," the firm said.
Meanwhile, the Sensex was trading 70 points or 0.22 percent higher at 32380.87 level. The Nifty which last week crossed the 10,000 level was up 0.22 percent or 21 points at 10,034 points.
