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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT RESULTS

Chevron, Exxon under pressure as falling natural gas prices hit earnings

L&T June quarter profit falls short of estimates

Reuters
A sign of Larsen and Toubro (L&T) is placed on a road divider in Mumbai, India May 25, 2016. REUTERS/Shailesh Andrade/Files (Reuters)

MUMBAI (Reuters) - Construction firm Larsen & Toubro Ltd 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 I/B/E/S. ($1 = 67.0050 Indian rupees) (Reporting by Zeba Siddiqui and Promit Mukherjee in Mumbai; Editing by Sherry Jacob-Phillips)