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Mumbai-based multinational conglomerate Larsen & Toubro Ltd on Friday reported a growth of 38.9 per cent in its consolidated net profit after taxes (PAT) at Rs 972.47 crore for the third quarter ended December 31, 2016, but cut its full year revenue growth guidance to 10 per cent from earlier 12 to 15 per cent on the back of challenging business conditions. “The consolidated net profit of the engineering and infrastructure major stood at Rs 700.34 crore during the same period a year ago,” said Larsen & Toubro Ltd in a filing to the Bombay Stock Exchange.
It’s consolidated total income increased marginally by 1.4 per cent to Rs 26,543.81 crore during Q3 2016-17, as compared to Rs 26,169.1 crore during the same period last year, due to delay in execution of projects despite healthy order book. The sales of the company grew 1.7 per cent to Rs 26,018.15 crore for the quarter under review as against Rs 25,591 crore during the December quarter of the previous fiscal, L&T Ltd said in a statement.