L&T exec says seeing early signs of govt spending on infra
MUMBAI (Reuters) - Larsen & Toubro (L&T) (LART.NS), India's top construction and engineering company, is seeing early signs of a government push on infrastructure spending, Chief Financial Officer R. Shankar Raman said on Thursday.
Big ticket energy and infrastructure projects in India have been stalled by a slow approval process, inadequate capital and low availability of fuel for power projects.
L&T reported a 13 percent rise in net profit to 11.22 billion rupees for the third quarter compared with 9.92 billion rupees a year earlier. Sales rose 10 percent to 154.29 billion rupees.
Analysts expected the company to report a net profit of 10.79 billion rupees on sales of 160.96 billion rupees, according to Thomson Reuters I/B/E/S.
(Reporting by Kaustubh Kulkarni; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- Alibaba surges 38 pct on massive demand in market debut
- UPDATE 3-Ebola lockdown brings Sierra Leone capital to a halt
- Eight bodies found after attack on Guinea Ebola education team
- UPDATE 9-Scots spurn independence in historic vote, devolution battle begins
- Scots spurn independence in historic vote, devolution battle begins
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday. Full Article
Top rice exporter India importing over 100,000 T on temporary supply squeeze. Full Article