L&T net profit jumps 12%

Mumbai : Engineering giant Larsen & Toubro (L&T) today reported a 12 per cent increase in net profits at Rs 746.15 crore in the first quarter ended June 30 — in line with market estimates — on the back of a healthy order book and better execution of contracts. The company had reported a net profit of Rs 666.17 crore in the corresponding period last year.

Analysts had expected the company to report profits in the region of Rs 720 crore to Rs 750 crore. The period saw L&T posting net sales of Rs 9,482.61 crore against Rs 7,831.19 crore in the first quarter last fiscal.