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.

By: Reuters
Mumbai | May 30, 2014 04:36 PM IST

1 min read

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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