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L&T Tech net profit up 39 per cent at Rs 230 crore in September quarter

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Shares of L&T Tech closed 5.53 per cent higher at Rs 5,123.40 on BSE

L&T Technology Services Ltd – a subsidiary of infrastructure conglomerate Larsen & Toubro, announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 230 crore on a consolidated basis, as against Rs. It was Rs 165.5 crore. Last year, marking a year-on-year growth of 39 percent.

The company’s revenue from operations stood at Rs 1,607.7 crore in the second quarter of the current financial year as against Rs 1,313 crore in the same period last year, registering a year-on-year growth of 22.4 per cent. company to the stock exchanges today.

During the September quarter, L&T Tech won five deals with TCVs of over $10 million, including two deals over $25 million. The Board of the company declared a special dividend of Rs. 10 per equity share.

“We had a strong quarter with six percent sequential growth in constant currency driven by healthy traction in digital engineering across all five of our segments. Growing digital adoption across our customer base has driven our revenues from digital and leading-edge technologies. Q2 in 55 percent.

Our broad-based growth was accompanied by an increase in operating margin to the 18.4 percent that we reported. Amit Chadha, CEO and Managing Director, L&T Technology Services Ltd. said, “We will continue the journey of investing in innovation laboratories and capacity building, which has benefited us in market share and operating model efficiencies.

On Tuesday, October 19, shares of L&T Tech closed 5.53 per cent higher at Rs 5,123.40 on the BSE. Shares of L&T Tech rose nearly six per cent today ahead of the announcement of quarterly results.

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