NEW DELHI (Reuters) - Industrial group Larsen & Toubro reported a 27 percent dip in net profit for the three months to end of March, as a fall in oil prices and challenges in some international projects hurt business.
The company posted a profit of 20.7 billion Indian rupees ($324.79 million) for its fiscal fourth quarter, compared with the 28.4 billion it had posted in the same quarter last year.
L&T, whose performance is seen as a gauge of the health of the Indian economy, has disappointed investors in recent quarters with a cautious take on the outlook for domestic demand for its engineering, construction and manufacturing goods.
($1 = 63.7332 rupees)
(Reporting by Tommy Wilkes in NEW DELHI and Nivedita Bhattacharjee in MUMBAI; Editing by Catherine Evans)
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