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Larsen & Toubro fourth-quarter profit rises 28 percent, beats estimates
May 29, 2017 / 11:40 AM / 6 months ago

Larsen & Toubro fourth-quarter profit rises 28 percent, beats estimates

(Reuters) - Engineering giant Larsen & Toubro Ltd reported a 28 percent rise in consolidated net profit for the March quarter, beating market estimates, with the infrastructure segment generating higher revenue.

A man waits at a bus-stop with an advertisement of Larsen & Toubro outside the company's manufacturing unit in Mumbai January 22, 2014. REUTERS/Danish Siddiqui/Files

Fourth-quarter profit was 31.80 billion rupees ($493.00 million), compared with a profit of 24.82 billion rupees a year earlier, while total income from operations rose 12 percent to 368.28 billion rupees.

Analysts on average had expected a consolidated net profit of 25.92 billion rupees, according to Thomson Reuters data.

Gross revenue from the infrastructure segment increased 8 percent on progress of jobs under execution, the company said on Monday. bit.ly/2r3XlKz

($1 = 64.5025 Indian rupees)

Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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