L&T Q3 Net Profit Up Nearly a Fifth, Misses Estimates

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Mumbai: India’s industrial conglomerate Larsen & Toubro Ltd reported on Friday quarterly net profit rose nearly a fifth as it won more orders for building roads and power transmission networks although the rise was smaller than expected.

The group, viewed as a bellwether of Asia’s third-largest economy, said consolidated net profit in the quarter ended on December 31, its fiscal third quarter, rose to Rs 1,035 crore from Rs 867 crore a year earlier.

Analysts on average had expected the company to post a net profit of Rs 1,080 crore.

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