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3 years ago
India's Larsen & Toubro 4Q profit rises 69 pct; beats estimates
May 30, 2014 / 10:33 AM / 3 years ago

India's Larsen & Toubro 4Q profit rises 69 pct; beats estimates

NEW DELHI, May 30 (Reuters) - Larsen & Toubro Ltd (L&T) , India's biggest engineer, on Friday beat analyst estimates by posting a 69 percent 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 Indian 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 percent lower ahead of the release, compared with a flat benchmark index. ($1 = 59.0150 Indian Rupees) (Reporting by Tommy Wilkes; Editing by Christopher Cushing)

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