Shares of Larsen & Toubro (L&T) on Wednesday declined nearly 4 per cent after the firm reported a 3 per cent drop in consolidated profit after tax during the March quarter in FY26.
The stock dropped 3.84 per cent to Rs 3,900 on the BSE.
At the NSE, it edged lower by 3.81 per cent to Rs 3,900.
Larsen & Toubro on Tuesday reported a 3 per cent 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.
However, revenue from operations in January-March FY26 rose 11 per cent to Rs 82,762 crore from Rs 74,392 crore in the year-ago period.
