L&T Q4 net up 44 pct, beats forecast

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Indian engineering conglomerate Larsen & Toubro Ltd on Monday reported quarterly profit rose 44 percent, beating market estimates, on the back of a pickup in order execution.Net profit rose to 14.38 billion rupees ($315 million) in its fiscal fourth quarter ended March from 9.99 billion rupees a year ago.Net sales rose to 133.75 billion rupees from 104.7 billion.A Reuters poll of 11 brokerages had estimated net profit of 11.9 billion rupees on net sales of 129.9 billion.Shares in the company, valued at $20.4 billion, have slipped nearly 11 percent so far in 2010, outpacing the 4.7 percent fall in the benchmark index in the same period.(Reporting by Prashant Mehra; Editing by Ranjit Gangadharan)(For more business news on Reuters Money visit http://www.reutersmoney.in)(For Quotes and Interactive Charts of L&T click http://in.reuters.com/money/quotes/chart?symbol=LART.BO)
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