L&T shares fall 4% after March quarter net profit dips 3%. Why are Jefferies, Goldman Sachs bullish?

Larsen and Toubro shares fell after the company reported a 3% YoY decline in Q4 net profit to Rs 5,326 crore. Despite the profit dip, revenue rose 11% to Rs 82,762 crore, with international business contributing over half. EBITDA grew 5%, indicating stable operational performance driven by core engineering and services segments.