L&T net falls 67% to ₹1,819 cr.
The Hindu
Firm had one-time gain from sale of business in Q2 last year
Larsen & Toubro Ltd. (L&T) reported second-quarter consolidated net profit plunged 67% to ₹1,819.45 crore, from ₹5,520 crore in the year-earlier period when it had a one-time gain from the sale of its electrical & automation business.
“The profit after tax for the quarter at ₹1,819 crore includes ₹144 crore gain on divestment of stake in hydel power plant in Uttarakhand and tax expense of ₹47 crore arising on transfer of the NxT Digital Business from the parent to Mindtree Ltd.,” the company said in a filing.
Consolidated profit after tax (excluding exceptional items and discontinued operations) at ₹1,723 crore, however, surged 56%.
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