India's Larsen and Toubro third-quarter profit misses on moderate order growth
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India's Larsen & Toubro reported a smaller-than-expected rise in quarterly profit on Monday, as moderate growth in order inflows hurt the infrastructure company.
L&T's net profit grew over 24% to 25.53 billion Indian rupees ($313.25 million) in the quarter ended Dec. 31.
However, that missed analysts' average estimate of 26.50 billion rupees, according to Refinitiv IBES data.
The company reported moderated 21% year-on-year growth in order inflows, compared to 23% growth in the previous quarter.
L&T's revenue from operations rose over 17% to 463.90 billion rupees.
