Friday January 30, 01:40 PM
L&T Q3 Net Soars On One-Time Gain
MUMBAI (Reuters) - India's largest engineering and construction firm, Larsen & Toubro Ltd, said on Friday quarterly net profit more than trebled, boosted by a one-time gain.
Net profit rose to 15.2 billion rupees ($310 million) in its fiscal third quarter ended December from 4.82 billion rupees in the year earlier period.
The profit included an extraordinary gain of 9.16 billion rupees from sale ready-mix concrete business.
Net sales rose to 85.94 billion rupees from 63.83 billion.
A Reuters poll of 10 brokerages had expected a net profit of 5.69 billion rupees, excluding one-time gains, on net sales of 80.95 billion.
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