L&T net profit rises 7%, beats analyst estimates
Oct 18 2013 , Mumbai/New Delhi
Net profit was 9.78 billion Indian rupees in the three months to September 30, compared with 9.15 billion rupees in the same period a year earlier, L&T said in a statement on Friday.
The average estimate of nine analysts polled by Thomson Reuters was 9 billion rupees.
L&T, which lays roads, constructs ships, makes power plant equipment and develops real estate, has been looking to boost overseas sales as the domestic economy grows at its slowest pace in a decade.
Ahead of the earnings, shares in L&T, valued at $13 billion, jumped 4.2 percent in a Mumbai market that gained 2.4 percent.