L&T Stock Declines 3.8% After Weak March Quarter Results

The stock of construction major Larsen & Toubro declined up to 3.8 percent on the bourses on Wednesday after the company reported weak financials in the March quarter.

The stock opened lower by 1.7 percent at Rs 3,984.95 compared to the previous close of Rs 4,056.15 apiece. It further fell to Rs 3,900, which is a discount of 3.8 percent on the previous closing price.

The stock was topping the losers’ chart among the Nifty 50 scrips on the National Stock Exchange.

The decline in the stock came after the company reported weaker profit in the concluding quarter of the last financial year.

While its revenue during the March quarter increased to Rs 82,762 crore, with a strong increase of 11 percent compared to the income of Rs 74,392 crore during the same period last year, the company reported a decline of 3 percent in net profit.

Net profit declined from Rs 5,497 crore in the corresponding quarter last year to Rs 5,326 crore in Q4FY26.

Its EBITDA increased by 5 percent to Rs 8,610 crore, but margins narrowed to 10.4 percent during the quarter from 11 percent a year ago.

The company said that the year-on-year decline in profit was mainly due to an exceptional gain of Rs 475 crore in the corresponding quarter last year. Hence, the high-base effect impacted profit growth in the March quarter.

For the full financial year FY26, the company reported a record order value of Rs 4,35,590 crore, up 22 percent year-on-year, due to strong traction in infrastructure, hydrocarbons, renewables, and power transmission businesses.

The consolidated revenue for FY26 rose 12 percent to Rs 2,85,874 crore, while recurring PAT increased 18 percent to Rs 17,238 crore.

Consolidated PAT for the year stood at Rs 16,084 crore, up 7 percent year-on-year.

Even after today’s decline, the stock of L&T has given a return of 17.8 percent in the last 12 months compared to a 0.7 percent loss in the Nifty index during the same period.