New Delhi, Jul 22 (PTI) Larsen & Toubro (L&T) on Wednesday posted 68.37 per cent decline in consolidated net profit to Rs 536.88 crore for the first quarter ended June 30, mainly due to COVID-19 and resultant lockdowns.

The company had clocked a consolidated net profit of Rs 1,697.62 crore in the year-ago period, the engineering and construction conglomerate said in a regulatory filing to the BSE.

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Its total income fell 27.19 per cent to Rs 22,037.37 crore in April-June quarter, against Rs 30,270.94 crore in the year-ago period, the filing said.

Total expenses decreased to Rs 21,367.63 crore during the quarter under review, from Rs 27,615.71 crore in the corresponding period previous fiscal.

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"The Group's operations and financial results for the quarter have been very adversely impacted by the lockdown imposed to contain the spread of COVID-19. The operations gradually resumed with requisite precautions during the quarter with limited availability of workforce and disrupted supply chain," the company said.

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