Engineering and construction conglomerate Larsen & Toubro Ltd (L&T) on Tuesday said it has issued non-convertible debentures (NCDs) worth Rs 2,000 crore, which will mature on April 28, 2028.

Share Market Live

NSE

"The company has today issued and allotted 2,00,000 7.725 percent Rated, Listed, Unsecured, Redeemable Non-Convertible Debentures of Rs 1 lakh each aggregating to Rs 2,000 crore which will mature on April 28, 2028," it said in an exchange filing.

The debentures are proposed to be listed on the National Stock Exchange of India Ltd and the interest on the said debentures will be paid on an annual basis, the company added.

Also Read: Microsoft layoffs in Seattle top 2,700 as tech giant lets go of 559 more employees: Report

The company reported a 24.2 percent rise in consolidated net profit at Rs 2,552.92 crore in the quarter that ended December 31, 2022, on the back of higher revenue from operations. The company had posted a consolidated net profit of Rs 2,054.74 crore in the year-ago period, L&T said in a regulatory filing.

The consolidated revenue from operations of the company in the October-December period increased to Rs 46,389.72 crore, against Rs 39,562.92 crore in the year-ago period.

The company received orders worth Rs 60,710 crore at the group level during the quarter that ended December 31, 2022, registering a growth of 21 percent over the corresponding quarter of the previous year.

Also Read: Tata Power says it is ready for Mumbai's increased demand this summer

Larsen & Toubro is an Indian multinational engaged in engineering, procurement and construction projects, hi-tech manufacturing, and services. It operates in over 50 countries worldwide.