Larsen & Toubro reports 6.5% rise in Q2 profit

Industrial group Larsen & Toubro Ltd (L&T) reported a 6.5 per cent rise in its second quarter profit on Friday, beating analyst forecasts after winning new orders in its infrastructure, power and hydrocarbons businesses.

The company said in a statement that net profit came in at Rs 1042 crore ($169 million) for the three months to September 30. The average estimate of eleven analysts polled by Thomson Reuters was for L&T to make Rs 952 crore.

Last year L&T, which lays roads, constructs ships, makes power plant equipment and develops real estate, reported net profit of Rs 978 crore.

(1 US dollar = Rs 61.6300 )

(Reuters)