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)