January 31, 2018 / 11:07 AM / 4 months ago

Larsen & Toubro third-quarter profit surges 53 percent, beats estimates

(Reuters) - Indian industrial group Larsen & Toubro Ltd reported a 53 percent rise in third-quarter profit, beating analysts’ expectations, as new orders rose, mainly in the infrastructure and hydrocarbon segments.

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

Net profit rose to 14.90 billion rupees ($234.20 million) in the quarter ended Dec. 31, from 9.72 billion rupees a year earlier. bit.ly/2npU5GX

Analysts on average were expecting a net profit of 14.63 billion rupees, according to Thomson Reuters data.

Revenue from operations rose 9.4 percent to 287.47 billion rupees, with international revenue constituting 35 percent of the total.

The group received new orders worth 481.30 billion rupees in the quarter, an increase of 38 percent from last year, while the group’s order book stood at 2.71 trillion rupees as on Dec. 31, up 4.7 percent year-on-year.

($1 = 63.6200 Indian rupees)

Reporting by Vishal Sridhar and Jessica Kuruthukulangara in Bengaluru; Editing by Amrutha Gayathri

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