Larsen & Toubro Q4 profit rises 69 pct at Rs 27.23 bn; beats estimates

Shares of Larsen & Toubro closed 0.27 per cent lower ahead of the release.

L&T’s net profit from continuing operations reached Rs 27.23 bn in Jan-March quarter from Rs 16.1 bn a year earlier.

Larsen & Toubro (L&T), India’s biggest engineer, on Friday beat analyst estimates by posting a 69 per cent rise in fourth-quarter net profit, thanks to a steep gain in revenue from its infrastructure and heavy engineering businesses.

Net profit from continuing operations reached 27.23 billion rupees ($461 million) in January-March from 16.1 billion rupees a year earlier, L&T said in a statement.

The result compared with the 16.15 billion rupees mean of 15 analysts, according to Thomson Reuters data.

Shares of L&T, which lays roads and makes ships, trains and power plant equipment, closed 0.27 per cent lower ahead of the release, compared with a flat Nifty.

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Amid India’s push to extradite Vijay Mallya and Nirav Modi, British officials visit Tihar jail to inspect conditions

British officials inspect Tihar jail as India pushes to extradite Mallya, Nirav Modi

Cities4 hr ago

A team from the British CPS visited Tihar jail to inspect inmate conditions and security, amidst India's efforts to extradite fugitives Vijay Mallya, Nirav Modi, and Sanjay Bhandari from the UK. They discussed setting up a specialized enclosure for high-profile prisoners and addressed concerns about violence within the jail. As of 2024, India has made 178 extradition requests to various countries.

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