Larsen & Toubro FQ1 Net Profit Up 16%

Larsen & Toubro Ltd LTOUF reported a 16% rise in its fiscal first-quarter net profit. Larsen & Toubro's quarterly net profit climbed to 8.64 billion rupees ($157 million), versus 7.46 billion rupees, in the year-ago period. Its sales surged 26% to 119.55 billion rupees, versus 94.82 billion rupees. However, analysts were expecting a net profit of 8.16 billion rupees.