L&T Q4 net up 3.3 per cent

Larsen & Toubro Ltd,on Thursday reported its March quarter net profit rose a better-than-expected 3.3 per cent on a strong order flow of infrastructure contracts.

Net profit rose to Rs 9.99 billion ($209 million) in its fiscal fourth quarter ended March from Rs 9.67 billion a year ago,but was weighed down by a provision of Rs 1.85 billion for its investment in Satyam Computer Services.

Net sales rose to Rs 104.7 billion from 84.7 billion.

A Reuters poll of 13 brokerages had forecast net profit of Rs 9.1 billion,on net sales of 110.59 billion.