L&T Q1 net up 12 per cent, beats forecast

Engineering conglomerate Larsen & Toubro reported a 12 percent rise in quarterly profit on

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Monday, beating market estimates, helped by a pickup in project execution.

Net profit rose to 7.46 billion rupees ($166 million) in its fiscal first quarter ended June from 6.66 billion rupees a year ago.

A Reuters poll of 11 brokerages had forecast net profit of 7.2 billion rupees.

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