We sustained our performance trajectory with sequential growth of 4.2 % led by strong demand across segments. The deal conversations and pipeline in our six big bets - Electric Autonomous & Connected Vehicle, 5G, Med-tech, AI & Digital Products, Digital Manufacturing and Sustainability – continues to see healthy improvement as our customers make steady progress on their long-term transformative journeys, said CEO & Managing Director, L&T Technology Services.is also expanding its global presence with the addition of an engineering R&D center in Poland that will strengthen our strategic partnership with European and Global clients.
“In line with our long-term growth prospects and strategy, we invested in hiring and onboarding a record 1,900 plus trainees leveraging our Global Engineering Academy that is focused on continuous training and upskilling. Despite the robust employee addition, we further improved our margin to 18.6%, reflecting gains from investments in talent and innovation,” said our CEO had a total headcount of 20,118 at the end of the Q3. L&T Technology Services reported net profit of Rs 248.8 up 33.7 per cent year-on-year and grew 8.17 per cent on sequential basis.
The company reported revenue growth of 20 per cent year-on-year at Rs 1,687 and was up almost 5 per cent on quarter-on-quarter basis.
During the quarter, LTTS won a $45 million deal and a total of three deals with TCV of $10 million plus. Revenues from digital and leading-edge technologies stood at 56 per cent during the quarter. L&T Technology Services (LTTS) reported 34 per cent rise in December quarter net profit at Rs 248.8 crore, led by profit margin expansion.
The company stated that its revenue from operations rose to Rs 1,687.5 crore from Rs 1,400 crore in the year-ago period.
The company's Managing Director and Chief Executive CEO stated that it is confident of achieving 19-20 per cent growth in the topline for 2021-22.
The company's operating profit margin surged by 3.40 percentage points to 18.6 per cent.
His added that the profit margins came wider on the back of improved performance from key verticals including telecom, health technology and engineering services. Director and Chief Executive CEO told PTI that LTTS is confident of achieving 19-20 per cent growth in the topline for 2021-22, on the back of being able to maintain the aspiration of achieving over 4 % revenue growth in the quarter as compared to the preceding September quarter.
The company’s operating profit margin expanded by 3.40% percentage points to 18.6%percentages, despite heightened hiring.
His said the profit margins came wider on the back of improved performance from its key verticals including telecom, health technology and engineering services, over 1,100 freshers hired in the first two quarter of the fiscal coming on board after training, and automation. (L&T) Technology Services on Tuesday reported 34% per cent jump in December quarter net profit at Rs 248.8 crore, driven majorly by profit margin expansion.
Revenue from operations rose to Rs 1,687.5 crore from Rs 1,400 crore in the year-ago period.(L&T Technology Services) Skip Updates Subscribe Markets Business Research Reports Economy & Finance Law & Policy L&T Technology Services Shares Fall As Q3 Growth Takes A Hit Research 10:21 AM IST, 19 Jan 2022 10:21 AM IST, 19 Jan 2022 5090.00 -331.45 6.11% Add to Shares of L&T Technology Services Ltd. fell the most in a month as lower working days and higher leaves weighed on growth in the
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