NEW DELHI: Industrial conglomerate Larsen and Toubro (L&T) on Wednesday said its consolidated net profit surged by 48.41 per cent to Rs 1,617.88 crore in the third quarter (Q3) ended December 31, 2017 as against Rs 1,090.14 crore in the same period last year.
In a regulatory filing to the BSE, the company said that the total income during Q3 stood at Rs 28,960.36 crore -- up 9 per cent -- from Rs 26,561.25 crore reported the same period last fiscal.
On a standalone basis, the company's net profit for the quarter under review rose by 30.79 per cent to Rs 1,221.89 crore.
Total income of the company edged higher by 10.24 per cent to Rs 18,161.95 crore in Q3 FY18.
The company said its board "has approved subscription to the equity shares offered by L&T Finance Holdings on a preferential basis up to an amount not exceeding Rs 20,000 million".
On Wednesday, the shares of L&T on the BSE closed higher by 0.87 per cent at Rs 1,416.60.