Larsen & Toubro Profit Jumps 37% In December Quarter, Beats Analysts' Estimates

Industrial conglomerate Larsen & Toubro Ltd posted a 37 per cent surge in third-quarter profit on Friday, beating analysts' expectations, due to strong execution in project and service businesses.

Net profit was Rs 2,042 crore ($286.84 million) in the three months to December 31, 2018, compared with Rs 1,490 crore a year earlier.

Analysts on average had expected the Mumbai-headquartered company to post a net profit of Rs 1,788 crore, according to data from Refinitiv.

Revenue from operations rose Rs 24.2 per cent to Rs 35,709 crore, with international business constituting 32 per cent of the total.

The group received new orders worth Rs 42,233 crore in the quarter, while the group's order book stood at Rs 2.84 lakh crore as on December 31, up 5 per cent year-on-year.