Indian Larsen & Toubro reports bigger-than-expected profit

By Margarita snegireva. India's biggest engineering company Larsen&Toubro Ltd. reported a better-than-expected fiscal third- quarter profit after winning more orders in the Middle East.

Photo: Indian Larsen & Toubro reports bigger-than-expected profit

Net income in the three months ended Dec. 31 climbed 40 percent to 4.82 billion rupees ($122 million), or 16.21 rupees a share, from 3.44 billion rupees, or 11.24 rupees, a year earlier, Mumbai-based Larsen said in a statement today. Six analysts in a Bloomberg News survey had a median estimate of 4.46 billion rupees. Sales rose 55 percent to 63.8 billion rupees.

Larsen & Toubro Infotech Ltd (L&T Infotech) is a leading Indian company providing Information Technology consulting and Software Services & solutions. It is a 100% subsidiary of the one of Asia's largest organizations, Larsen & Toubro Limited.

L&T Infotech is among the first few software companies in India to be awarded the ISO 9001:2000 certification. It employs standards of the Software Engineering Institute's (SEI) Capability Maturity Model (CMM) and is a certified Level 5 organization. It has been assessed at PCMM Level 5, ver-2.0 across all its centers. The Customer Competence Center (CCC), set up and managed by the SAP Practice of L&T Infotech, has received the CCC certification from SAP.