L&T posts 18% net profit rise in December quarter
23 Jan 2012
Larsen & Toubro Ltd, the power engineering and construction major, showed a better-than-expected rise in profits in the third quarter to the end of December, said a company statement today.
Net income rose 18 per cent to Rs992 crore in the three months compared with Rs841 crore in the same period a year earlier, as it completed projects faster and curbed costs to boost margins, the company said.
That beat the Rs869 crore median of 23 analyst estimates compiled by Bloomberg.
L&T aims to boost orders in the hydrocarbon and infrastructure sectors in the Middle East and South East Asian countries, the statement said.
Sales in the quarter rose 23 per cent to Rs13,990 crore, while the total in the order book reached Rs1,46,000 crore as of 31 December, it said.
The company has booked higher other income of Rs 449 crore (Rs 251 crore) during the quarter.