L&T Q2 net jumps 32 pc to Rs 2,020 cr
Infrastructure giant Larsen and Toubro (L&T) today reported a 32 per cent jump in its consolidated net profit at Rs 2,020 crore for the quarter ended September 30, 2017.
The firm had clocked a net profit after tax and share in profit of joint ventures or associates of Rs 1,532 crore in the year-ago period.
Total consolidated income of the company rose to Rs 26,848 crore in July-September quarter this fiscal from Rs 25,474 crore during the same quarter in 2016-17, the company said in a statement.
Total expenses rose to Rs 24,310 crore from Rs 23,507 crore.
On the outlook, L&T said the government's determined efforts to revive the investment sentiment while undertaking impactful economic reforms have expectedly caused transition challenges.
"While the potential for investment in growth remains compelling, the readjustment to the continuing impact of currency purge and the accelerated implementation of GST has upset business environment and tripped growth in an economy already beset with twin challenges of attracting investments and adhering to fiscal rectitude," it said.
The company expects that the various reforms and economic measures over the past year would take some more time to stoke growth, it added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.