01-01-1970 12:00 AM | Source: Reuters
India`s Larsen & Toubro posts Q1 profit beat
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India's Larsen & Toubro reported a bigger-than-expected 46.5% rise in first-quarter profit on Tuesday, boosted by strong performance at its core engineering and construction business, and it also approved buyback of shares worth up to 100 billion rupees.
L&T's consolidated net profit after tax rose to 24.93 billion rupees ($304.53 million) for the quarter ended June 30, from 17.02 billion rupees a year ago.
Analysts, on average, had expected a profit of 19.74 billion rupees, as per Refinitiv IBES data.
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