Mumbai, 25/7: Larsen & Toubro reported a bigger-than-expected 46.5 per cent 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 Rs 10,000 crore.
L&T’s consolidated net profit after tax rose to Rs 2,493 crore for the quarter ended June 30, from Rs 1,702 a year ago.
Analysts, on average, had expected a profit of Rs 1,974 crore, as per Refinitiv IBES data.
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