NEW DELHI May 30 Larsen & Toubro Ltd (L&T)
, India's biggest engineer, on Friday beat analyst
estimates by posting a 69 percent rise in fourth-quarter net
profit, thanks to a steep gain in revenue from its
infrastructure and heavy engineering businesses.
Net profit from continuing operations reached 27.23 billion
Indian rupees ($461 million) in January-March from 16.1 billion
rupees a year earlier, L&T said in a statement.
The result compared with the 16.15 billion rupees mean of 15
analysts, according to Thomson Reuters data.
Shares of L&T, which lays roads and makes ships, trains and
power plant equipment, closed 0.27 percent lower ahead of the
release, compared with a flat benchmark index.
($1 = 59.0150 Indian Rupees)
(Reporting by Tommy Wilkes; Editing by Christopher Cushing)