India's L&T Q2 net jumps 42 pct on one-time gain, beats forecast

MUMBAI Mon Oct 22, 2012 4:40am EDT

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MUMBAI Oct 22 (Reuters) - Larsen & Toubro, India's top construction and engineering company, beat estimates with a 42.4 percent rise in net profit for the July-Sept quarter, the company said on Monday, helped by a one-time gain and higher revenue booking.

The Mumbai-based engineering conglomerate said net profit rose to 11.37 billion rupees ($211.8 million) during the second quarter of the fiscal year from 7.98 billion rupees a year earlier. Excluding a one-time gain during the quarter, L&T reported a net profit of 9.15 billion rupees.

Market expected a profit of 8.76 billion rupees, according to Thomson Reuters I/B/E/S.

Sales rose 17.3 percent to 131.95 billion rupees. ($1= 53.69 rupees) (Writing by Henry Foy; Editing by G.Ram Mohan)

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