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

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

business Updated: Jan 31, 2018 17:23 IST
Reuters
Reuters
Reuters
L&T,LARSEN & TOUBRO,EARNINGS
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

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.

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.

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

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

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

($1 = 63.6200 Indian rupees)

First Published: Jan 31, 2018 17:18 IST