Mumbai: Shares of conglomerate Larsen and Toubro slumped around 7 percent on Wednesday after the company`s April-June net profit, adjusted for exceptional items worth Rs 2.49 billion, missed estimates.
Exceptional gain represents gain on divestment of a strategic investment and stake in subsidiary companies, the company said in a statement on Monday.
The extent of losses in the hydrocarbons segment was also a negative surprise, analysts say.
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