Larsen & Toubro (L&T), an engineering and construction conglomerate, witnessed a fall in share price on Monday after it reported a lower-than-expected profit for third quarter. The company reported a consolidated profit of Rs 8.66 billion for the quarter ended Dec. 31, 2014, up 8.77% as compared to net profit Rs 7.96 billion in the same period last year. Analysts had estimated profit of Rs 11.5 billion.
Total income has increased by 9.73% to Rs 238.47 billion for the quarter ended Dec. 31, 2014 from Rs 217.32 billion for the corresponding quarter a year ago.
Shares of the company are settled at Rs 1,573.00, down Rs 111.35, or 6.61% at the Bombay Stock Exchange (BSE) on Monday.
L&T lost Rs 103.43 billion in market capitalization due to today's fall to Rs 1,461.08 billion. The scrip has touched an intra-day high of Rs 1,673.30 and low of Rs 1,549.85. The total volume of shares traded at the BSE is 504,744.