Larsen & Toubro profit rises 12 per cent in third quarter

Larsen & Toubro Ltd, India's largest infrastructure builder, posted a 12 per cent rise in quarterly net profit, roughly in line with analyst estimates, as overseas revenue offset the impact of a slowing domestic economy.

L&T, which lays roads, constructs ships, develops real estate and makes power plant equipment, has been looking to boost overseas sales as the domestic economy grows at its slowest pace in a decade.

In October-December, net profit rose to Rs 1136 cr from 10.13 billion rupees a year earlier, the company said in a statement on Wednesday.

That compares with an 11.5 billion rupee mean estimate of 16 analysts, according to Thomson Reuters data.

The company said the net profit in the quarter grew 22 percent to 12.41 billion rupees after accounting for the exceptional gain on dilution of its stake in a subsidiary.

Shares of L&T, valued at $15.1 billion, closed down 0.7 percent before the earnings report, on the BSE Sensex that gained 0.4 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Tax offenders stashing black money abroad must be booked

    There can be little doubt that for the government to get at those salting away unaccounted and untaxed money in foreign banks is a long overdue exerci

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Riding the product startup wave

That the Indian youth is undergoing a massive change in ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture