Larsen & Toubro (L&T) today reported a 10% increase in net profit at Rs 157.13 crore for the first quarter ended June 30, 2006 when compared with Rs 142.97 crore in Q1FY06.According to a release issued by the company to the BSE today, total income increased to Rs 3,524.33 crore from Rs 3,155.34 crore in Q1FY06.