Larsen Profit Exceeds Estimates on India Construction Boom
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Larsen & Toubro Ltd., India’s biggest builder of power networks and airports, posted a better-than-expected 43 percent increase in second-quarter profit, helped by higher sales and the sale of a stake in a unit.
Net income rose to 11.4 billion rupees ($213 million) in the three months ended Sept. 30, from 7.98 billion rupees a year earlier, the Mumbai-based company said in a statement today. That exceeded the 8.8 billion-rupee median of 27 analyst estimates compiled by Bloomberg.