L&T Q3 net profit rises 9% to Rs 867 crore, misses estimates

Mumbai: Engineering and construction firm, Larsen and Toubro (L&T), reported 8.7 percent rise in consolidated net profit for the third quarter at Rs 866.54 crore on higher revenue. CNBC-TV18 estimated net profit to come in at Rs 1,075 crore. [caption id=“attachment_1326603” align=“alignleft” width=“380”] Larsen and Toubro logo. Image courtesy ibnlive.in.com[/caption] The company had clocked Rs 796.66 crore net profit in the October-December quarter of last fiscal, it said in a BSE filing. The company’s revenue grew 9.6 percent to Rs 24,033 crore in which international business contributed Rs 6,400 crore. L&T had reported Rs 21,929 crore revenue in the same period of last fiscal. Consolidated order-book of the company stood at Rs 225,788 crore as on December 31, higher by 17 percent. International orders constituted 25 percent of the total order-book. “The company, with its leadership position in multiple sectors and inherent capabilities, is well poised to capitalise on the upcoming business opportunities, particularly in infrastructure, power and defence sectors, which are likely to benefit from the government’s thrust,” it added. PTI