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L&T shares slip despite robust quarterly results
L&T's stock slipped about 1% on Friday morning, even though the company posted strong growth in its latest quarterly results.
As a major player in the Nifty 50, L&T is influential in the broader market.
Revenue and profit jump for L&T
Despite the dip, L&T's revenue jumped to ₹63,678 crore for Q1, up from last year.
Net profit also climbed to ₹4,325 crore for the quarter and annual profit grew to ₹17,687 crore—meaning stronger returns for shareholders.
Earnings per share saw a healthy boost too.
Operating cash flow drops
The drop in operating cash flow this year is mostly due to big investments in new projects.
Still, analysts are optimistic: technical trends suggest L&T shares could rebound over the next three months as momentum builds.