L&T Q1 profit beats estimates on strong infrastructure business
L&T’s Q1 profit rose to ₹ 1,215 crore ($176.80 million) in the quarter ended 30 June from ₹ 893 crore a year earlier, the company said in a statement
Bengaluru: Industrial conglomerate Larsen and Toubro Ltd (L&T) on Wednesday posted a 36% rise in Q1 profit, beating street estimates, helped by strong performance in its infrastructure business. Net profit rose to ₹ 1,215 crore ($176.80 million) in the quarter ended 30 June from ₹ 893 crore a year earlier, the company said in a statement. Analysts on average had expected a net profit of ₹ 1,186 crore, according to Thomson Reuters I/B/E/S.
Customer revenue from the infrastructure segment rose 9% to ₹ 12,135 crore while overall revenue from operations jumped about 18% to ₹ 28,283 crore.
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