Larsen and Toubro Ltd (L&T), the conglomerate that often mirrors the performance of the broader economy, on Friday posted a 46% increase in consolidated net profit for the June quarter as lower tax expenses and reduced losses at subsidiaries helped counter a decline in margins and order inflows.
L&T, which has businesses in engineering and construction, power, finance, information technology (IT) and realty, reported a group net profit of Rs893 crore for the quarter, up from Rs610 crore a year earlier. Gross revenue rose 10% year-on-year to Rs23,990 crore.