Larsen & Toubro June-quarter profit beats estimates

Industrial conglomerate Larsen & Toubro Ltd on Wednesday posted a 36 percent rise in June-quarter net profit, beating street estimates, helped by strong performance in its infrastructure business.

Net profit rose to 12.15 billion rupees ($176.80 million) in the quarter ended June 30 from 8.93 billion rupees a year earlier, the company said in a statement. 

Analysts on average had expected a net profit of 11.86 billion rupees, according to Thomson Reuters I/B/E/S.

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Customer revenue from the infrastructure segment rose nine percent to 121.35 billion rupees while overall revenue from operations jumped about 18 percent to 282.83 billion rupees.