The conglomerate United Technologies Corp Thursday said profits rose 22 per cent in the first quarter compared to the same period last year, citing demand for its Pratt & Whitney jet engines and Otis elevators, according to dpa. Overseas sales and a weaker US dollar helped the firm keep head above water amidst the US economic downturn. Net income increased to 1 billion, or 1.03 dollar a share, from 819 million dollars, or 82 cents, last year, beating analysts' expectations. Revenue rose 12 per cent to 13.7 billion dollars, the Hartford, Connecticut-based company said in a statement.
