Larsen & Toubro (L&T) reported 67 per cent drop in consolidated net profit at Rs 1,819.45 crore for the quarter ended September 30, 2021.
The company had posted a net profit of Rs 5,520.27 crore in the year-ago period, L&T said in a filing to BSE.
However, the total income during July-September increased to Rs 35,305.04 crore over Rs 31,593.77 crore in the year-ago period, the filing said.
''The consolidated net profit after tax (including exceptional items and discontinued operations) for the quarter at Rs 1,819 crore includes Rs 144 crore gain on divestment of stake in hydel power plant in Uttarakhand (a part of the Development Projects Segment) and tax expense of Rs 47 crore arising on transfer of the NxT Digital Business from the Parent to Mindtree Ltd,'' it said.
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