Larsen & Toubro fourth-quarter profit up 4.7 percent, beats estimate

(Reuters) - Industrial group Larsen & Toubro Ltd posted a nearly 5 percent rise in fourth-quarter net profit on Monday, beating analysts’ estimates, on higher order intake during the period.

Net profit rose to 31.67 billion rupees ($469.78 million) in the three months ended March 31 from 30.25 billion rupees a year earlier, L&T said.

Analysts on average had expected the Mumbai-headquartered company to post a net profit of 30.03 billion rupees, according to Thomson Reuters data.

Revenue from operations jumped 10.5 percent to 406.78 billion rupees.

L&T’s order intake rose 5 percent to 495.57 billion rupees in the quarter.

($1 = 67.4150 Indian rupees)