Larsen & Toubro’s board of directors plans to raise funds on March 24

Larsen & Toubro after-hours announced on Monday that the company’s board of directors will meet on March 24, 2022 to seek fundraising approval.

In an exchange filing, L&T said a meeting of the company’s board of directors is scheduled to be held on Thursday, March 24, 2022, to seek approval to raise funds, including through the issuance of debt securities. as part of the company’s refinancing program.

L&T is an Indian multinational company engaged in EPC projects, high-tech manufacturing and services. It operates in more than 50 countries around the world. The EPC major’s consolidated net profit fell by 16.70% to Rs 2,054.74 crore on an 11.14% increase in net sales to Rs 39,562.92 crore in Q3 FY22 compared to Q3 FY21.

Shares of L&T were trading down 0.02% at Rs 1,756 on BSE at the start of trading.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First published: Tuesday, March 22, 2022. 09:19 IST

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