On Tuesday, the share price of the large-cap company rose by 1.2% to its intraday high of ₹3,588 per share from the previous close of ₹3542.5 after the company bagged a mega order in Mumbai Ahmedabad High-Speed Rail Project.
In the exchange filling, the company L&T Construction’s Railway Strategic Business Group has secured a mega contract to build 508 km of high-speed railway electrification system for the Mumbai-Ahmedabad bullet train project.
This is a first-of-its-kind project for India and will involve using Japanese Shinkansen technology. The project is being funded by the Japan International Cooperation Agency (JICA) and implemented by an authorized Japanese agency.
According to the company’s financials, their net revenue increased by 19% year over year, from ₹ 42,763 crore in Q2FY23 to ₹ 51,024 crore in Q2FY24. Their revenue rose by 6.5% sequentially from ₹ 47,882 crore in Q1FY24 to the current levels.
Furthermore, the company’s net profit increased by 38% year on year, from ₹2,785 crores in Q2FY23 to ₹3,846 crores in Q2FY24. Their quarterly profit increased by 24% from ₹172 crore in Q1FY24 to current levels.
The company has a 14% return on equity, a 12% return on capital employed, a 6.5% net profit margin, and a dividend yield of 0.67%.
Larsen and Toubro Limited is a large-cap company with a market capitalization of Rs 4,90,860 crores. The share price of the company rose 44% in the last six months and 67% in the last year.
The general public owns 39.77% of the company, while foreign institutional investors own 25.71% and domestic institutional investors own 34.51%.
Larsen & Toubro Ltd is a multinational conglomerate based in the United States that primarily provides engineering, procurement, and construction (EPC) solutions in key sectors such as Infrastructure, Hydrocarbon, Power, Process Industries and Defense, Information Technology, and Financial Services.
Written by Sriram KV
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