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Larsen & Toubro beats estimates with 27 percent jump in Q2 profit


REUTERS - India's top engineering and construction company Larsen & Toubro Ltd reported a higher than expected 27 percent rise in second quarter net profit, helped by a one-off gain from the sale of a subsidiary.Consolidated net profit rose to 18.2 billion rupees ($279.31 million) in the three months ended Sept. 30 from 14.35 billion rupees a year earlier, the company said in a statement on Saturday.Analysts on average had expected a net profit of 12.2 billion rupees, according to Thomson Reuters data.L&T said it had an exceptional gain of 1.37 billion rupees during the quarter from the sale ...

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First Published: Sat, November 11 2017. 18:04 IST