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Thursday May 28, 01:44 PM
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Source: Financial Express
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LandT Q4 net up 3.3 per cent
Larsen and Toubro Ltd, on Thursday reported its March quarter net profit rose a better-than-expected 3.3 per cent on a strong order flow of infrastructure contracts.
Net profit rose to Rs 9.99 billion ($209 million) in its fiscal fourth quarter ended March from Rs 9.67 billion a year ago, but was weighed down by a provision of Rs 1.85 billion for its investment in Satyam Computer Services (SATYAM.BO : 90.55 -2.2
).
Net sales rose to Rs 104.7 billion from 84.7 billion.
A Reuters poll of 13 brokerages had forecast net profit of Rs 9.1 billion, on net sales of 110.59 billion.
