January 23, 2019 / 12:05 PM / a month ago

United Tech 4th-qtr profit rises 73 percent

Jan 23 (Reuters) - Industrial conglomerate United Technologies Corp reported a 72.8 percent rise in quarterly profit on Wednesday, as the company benefited from a favorable tax rate and the acquisition of aero parts maker Rockwell Collins.

United Technologies' income attributable to shareholders rose to $686 million, or 83 cents per share, in the fourth quarter ended Dec. 31, from $397 million, or 50 cents per share, a year earlier.

On an adjusted basis, the company earned $1.95 per share.

The company, which makes Pratt & Whitney aircraft engines and Carrier air conditioners, said net sales rose 15.1 percent to $18.04 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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