May 28, 2018 / 10:41 AM / 21 days ago

Larsen & Toubro fourth-quarter profit up 4.7 percent, beats estimate

(Reuters) - Industrial group Larsen & Toubro Ltd posted a nearly 5 percent rise in fourth-quarter net profit on Monday, beating analysts’ estimates, on higher order intake during the period.

File Photo: A logo of Larsen and Toubro (L&T) is pictured outside its Corporate office in Mumbai, India May 25, 2016. REUTERS/Shailesh Andrade

Net profit rose to 31.67 billion rupees ($469.78 million) in the three months ended March 31 from 30.25 billion rupees a year earlier, L&T said.

Analysts on average had expected the Mumbai-headquartered company to post a net profit of 30.03 billion rupees, according to Thomson Reuters data.

Revenue from operations jumped 10.5 percent to 406.78 billion rupees.

L&T’s order intake rose 5 percent to 495.57 billion rupees in the quarter.

($1 = 67.4150 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair

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