India's Larsen & Toubro posts Q1 profit beat

BENGALURU, July 25 (Reuters) - Indias Larsen & Toubro (LART.NS) reported a bigger-than-expected 46.5% rise in first-quarter profit on Tuesday, boosted by strong performance at its core engineering and construction business, and it also approved buyback of shares worth up to 100 billion rupees.

L&Ts consolidated net profit after tax rose to 24.93 billion rupees ($304.53 million) for the quarter ended June 30, from 17.02 billion rupees a year ago.

Analysts, on average, had expected a profit of 19.74 billion rupees, as per Refinitiv IBES data.

($1 = 81.8644 Indian rupees)