L&T Tech Q3: Net profit rises to Rs 249 cr, company declares interim dividend of Rs 10

L&T Technology Services on Tuesday reported a 33.7% year-on-year (YoY) growth in consolidated net profit for October-December to Rs 248.8 crore. On a quarterly basis (QoQ), profit increased by 8.2%.

The company’s revenue rose 20.5% year-on-year and 5% quarter-on-quarter to Rs 1,687.5 crore in the quarter under review, while earnings before interest, tax, depreciation and amortization (EBITDA) increased by 33.3% YoY and 5.2% QoQ to Rs 367.5 crore. .

The EBITDA margin reached 21.8% in the quarter under review, compared to 21.7% in the prior quarter and 19.7% in the prior year quarter.

The subsidiary of Larsen & Toubro (L&T) said it won a contract worth $45 million and a total of three contracts with a contract value of more than $10 million. Revenue from digital and advanced technologies was 56% in the quarter.

“We maintained our performance trajectory with 4.2% sequential growth in constant currency, driven by strong demand across all segments. The conversations and deal pipeline across our six big bets – Autonomous and Connected Electric Vehicle (EACV), 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 transformation journeys,” said the CEO and Managing Director of L&T Tech, Amit Chadha.

Also read: Tata Elxsi Q3 results: net profit up 43.5% to Rs 151 cr, revenue up 33.2%

He added that, in line with the company’s long-term growth outlook and strategy, it has hired and onboarded a record number of over 1,900 interns, leveraging its Global Engineering Academy which focuses on continuous training and development. The company’s workforce stood at 20,118 at the end of the December quarter.

“Despite the robust addition of employees, we further improved our operating margin to 18.6%, reflecting gains from investments in talent and innovation,” Chadha said.

The company’s board also declared an interim dividend of Rs 10 per share.

In a separate statement, L&T Tech said it was awarded a deal worth $45 million from a US Tier 1 automotive company to be its strategic engineering partner and provide engineering services for its portfolio. of electric vehicle products.

“Under the terms of the 5-year agreement, LTTS will work with the client to deliver solutions leveraging its competence in e-mobility technology. Notably, this will be delivered from LTTS’ ER&D center in Krakow , Poland,” he said, adding that the company plans to have more than 300 engineers working from its center in Krakow, Poland over the next three years, marking its expansion into Eastern Europe. ‘East.

Also Read: Bajaj Finance Q3 Results: Net profit up 85% to Rs 2,125 cr, NII up 40%

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