L&T Technology Services Reports: Enterprise India October 17: Mumbai (Maharashtra), India The top pure-play engineering services provider in India, L&T Technology Services Limited (BSE: 540115, NSE: LTTS), has released its financial results for the second quarter that concluded on September 30, 2023. The following are Q2FY24 highlights:
- At Rs. 23,865 million, revenue increased by 5% YoY and 4% QoQ* in US dollars. Revenue increased by 2.2% YoY and 3.2% QoQ in constant currency to $288.1 million.
- EBIT margin was 17.1% * Net income was Rs. 3,154 million, up 5% year over year.
- A 17 rupee interim dividend per share; Date of record: October 27, 2023 Seven projects totaling USD 10 million or more TCV were won by LTTS during the quarter across all industry segments, including six deals over USD 15 million apiece. We had a great performance, with sales increasing by 3.2% sequentially in constant currency and operating margin holding at 17% plus levels despite absorbing staff wage increases. Deal momentum was robust, with the highlight being a deal victory worth more than $10 million that used SWC’s North American capabilities. This victory was made possible by our outstanding end-to-end technology stack for wireless and 5G communications, which is quickly becoming one of our main competitive advantages.
From Mainframes to the Cloud: The Evolution of Information Technology
L&T Technology Services Reports Strong Revenue
We are making investments in cybersecurity, artificial intelligence, and software defined vehicles, and over the coming quarters, we will train close to 2,000 personnel. We are able to create AI services and solutions that cater to the needs of sectors like automotive, manufacturing, and healthcare because to our collaboration with hyperscalers and semiconductor firms. We are certain that these investments will solidify our status as the preferred engineering partner for international ER&D businesses. the managing director of L&T Technology Services Limited, Amit Chadha, stated. highlights and accolades * Digital Factory/Manufacturing Solutions, North America, and Agile Product Development and Design Services are recognised by ISG as leaders in Manufacturing Industry Services and Solutions 2023.
- ACES Automotive Engineering Services PEAK Matrix® Assessment 2023 – Electric: Positioned as Leaders The renowned RoSPA Gold Health & Safety Awards were given to three LTTS smart city projects in 2023 by the Royal Society for the Prevention of Accidents in the UK.
- FICCI presented LTTS with the HR Innovation Award for 2023. * LTTS was named the winner of the Golden Peacock Award for ESG, 2023.
Amit Chadha, CEO and MD of LTTS, was honoured by the Indo American Chamber of Commerce as Corporate Leader of the Year, 2023 Patents. At the conclusion of Q2FY24, L&T Technology Services has 1198 patents in its portfolio, 785 of which were co-authored with its clients. The remaining patents were all independently submitted by LTTS. People ResourcesLTTS had 23,880 employees as of the end of Q2FY24.
