L&T Q2 net up 32% at Rs 765 cr, beats forecast
Larsen and Toubro has secured contracts for projects worth crores in various sectors including construction of hospitals and residential projects.
By Agencies |
MUMBAI: Indian engineering conglomerate Larsen & Toubro Ltd on Monday reported a 32 percent rise in quarterly profit, beating market estimates, on the back of a pickup in order execution.
Net profit rose to Rs 765 crore ($173 million) in the quarter ended September from Rs 580 crore a year ago. Total income rose to Rs 9,331 crore from Rs 7,921 crore.
A Reuters poll of 17 brokerages had estimated net profit of Rs 657 crore on net sales of Rs 892 crore.
Larsen and Toubro has secured contracts for projects worth crores in various sectors including construction of hospitals and residential projects.
These contracts have enhanced B&FOC's order book of the company, which already has major design and build projects in the airports, IT parks and commercial space.
Shares in the company, valued at $27.3 billion, have risen about 16 percent so far in 2010, ahead of the 14 percent increase in the benchmark index during the same period.
Net profit rose to Rs 765 crore ($173 million) in the quarter ended September from Rs 580 crore a year ago. Total income rose to Rs 9,331 crore from Rs 7,921 crore.
A Reuters poll of 17 brokerages had estimated net profit of Rs 657 crore on net sales of Rs 892 crore.
Larsen and Toubro has secured contracts for projects worth crores in various sectors including construction of hospitals and residential projects.
These contracts have enhanced B&FOC's order book of the company, which already has major design and build projects in the airports, IT parks and commercial space.
Shares in the company, valued at $27.3 billion, have risen about 16 percent so far in 2010, ahead of the 14 percent increase in the benchmark index during the same period.
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