India's L&T Q3 net up 13 pct on strong order wins, beats forecast
MUMBAI Jan 24 (Reuters) - Larsen & Toubro (L&T), India's top construction and engineering company, reported a 13 percent increase in net profit for the Oct-Dec quarter helped by strong order wins, beating forecast.
L&T reported a net profit of 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.
At 0816 GMT, shares in L&T, valued by the market at about $17.8 billion, were up 1.6 percent at 1,586 rupees in a negative Mumbai market. (Reporting by Aditi Shah; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
Top Indian mobile carrier Bharti Airtel posted a 61 percent rise in quarterly profit on Tuesday but fell short of analyst estimates as its African business continued to weigh. Full Article
Finmeccanica settles with Italy prosecutors to end Indian chopper deal probe. Full Article