L&T gets board nod for Rs 10K cr share buyback; Q1 profit surges 46.5% YoY
Engineering conglomerate Larsen & Toubro (L&T) on Tuesday announced a buyback of up to Rs 10,000 crore. It also reported a 46.5 per cent year-on-year rise in net profit for the June quarter (Q1FY24), topping the estimates on the back of improved operational performance and higher other income.
L&T’s order book crossed the Rs 4-trillion mark for the first time.
The board also decided to give a special dividend of Rs 6 per share, which company executives said was to mark A M Naik’s tenure at L&T. Group chairman Naik retires in September this year.
