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Sept 7 (Reuters) - Drilling and construction services provider Layne Christensen posted a rise in quarterly profit on strong sales at its mineral exploration business.
The company provides drilling, water treatment and construction services to customers such as municipalities, water utilities, global mining companies, heavy civil construction contractors, and oil and gas producers.
Over the years, water infrastructure has been the biggest revenue generator for the company, but the company expects this division to continue to be pressured, with a weak economy weighing on municipal spending.
The mineral exploration division, the company's second-largest unit, posted a 35.9 percent rise in revenue.
Second-quarter profit rose to $10.6 million, or 54 cents per share, compared with $6.5 million, or 33 cents per share last year.
Revenue of the company, rose 16.5 percent to $295 million.
Shares of the company closed at $25.75 on Tuesday on Nasdaq. (Reporting by Swetha Gopinath in Bangalore; Editing by Joyjeet Das)
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