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L&T Tech shares surge 16% hit all-time high after strong Q1 numbers: Shares of L&T Technology Services

L&T Infotech

L&T Tech shares surge 16% hit all-time high after strong Q1 numbers: Shares of L&T Technology Services jumped 16 percent to hit their fresh record high of Rs 3,370.40 after the technology firm reported an 84.5 percent year-on-year (YoY) jump in its June quarter net at Rs 216.2 crore. The engineering and research and development services arm of the infra major L&T posted a net profit of Rs 117.2 crore in the year-ago period.

Its overall revenue increased by 19.42 percent YoY to Rs 1,562.6 crore for the reporting quarter, while the operating profit widened 5.20 percent to 17.3 percent, its highest ever. Most brokerage firms remain positive on the stock after the June quarter numbers.

News Source:- Moneycontrol

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