Larsen & Toubro’s Q1 profit slips 37%

Larsen & Toubro Ltd reported a net profit of Rs 600 Crores for its first quarter - more than a third lesser than last year. Last year the company reported a net profit of Rs 967 Crores for the three months that ended June.

The company has been looking to bounce back, however, low demand for its products affected its progress. Shares of the group closed up a mere 1%. Its stocks had risen around 20% this year.

Image credit: Indiatimes