India: L&T June quarter profit falls short of estimates

MUMBAI : Construction firm Larsen & Toubro Ltd (LART.NS) reported a quarterly profit well below analysts’ estimates, as several of its local infrastructure orders were deferred, leading to a decline in domestic business.

Net profit for the April-June quarter was 6.10 billion rupees ($ 91.04 million) compared with 4.19 billion rupees a year earlier. Analysts, on average, expected a profit of 8.11 billion rupees, according to Thomson Reuters