L&T Shares Tumble Amid Profit Drop

Larsen & Toubro (L&T) saw its shares fall nearly 4% on Wednesday following a reported 3% drop in consolidated profit after tax (PAT) for the March quarter of FY26. The stock dropped to Rs 3,900 on both the BSE and NSE markets.

The decline in PAT to Rs 5,326 crore was largely due to a high base from the previous year's exceptional gain of Rs 475 crore. In the corresponding quarter of the prior financial year, L&T posted a consolidated PAT of Rs 5,497 crore.

Despite the profit drop, L&T experienced an 11% rise in revenue from operations in the January-March FY26 period, reaching Rs 82,762 crore compared to Rs 74,392 crore in the same quarter the previous year.

(With inputs from agencies.)