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)
Trending On Reuters
Over a dozen debt-laden farmers have committed suicide in recent weeks in India, and discontent in many rural areas against government policies is turning into anger against Prime Minister Narendra Modi less than a year after he swept into office. Full Article