India`s Larsen & Toubro posts Q1 profit beat
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
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.
