L&T Technology Services Reports 24 Percent Growth in Q2FY23

• Q2 Revenue of Rs 1,995 crore, up 24% YoY
• Q2 Net revenue of Rs 282 crore, up 23% YoY

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s main pure-play engineering companies firm, introduced its outcomes for the second quarter ended September 30, 2022.

 

Highlights for Q2FY23 embrace:

• Revenue at Rs 19,951 million; progress of 24% YoY
• USD Revenue at $247.1 million; progress of 18% YoY in fixed foreign money
• EBIT margin at 18.2%
• Net revenue at Rs 2,824 million; progress of 23% YoY
• Interim Dividend of Rs 15 per share; Record date October 28, 2022

 

During the quarter, LTTS received a USD 60 million plus deal and a take care of TCV of USD 10 million.

 

“We are proud to have achieved a USD 1 billion annualized income run-rate in Q2 on fixed foreign money foundation. Our momentum stayed robust in the second quarter with income rising sequentially by 4.5% in fixed foreign money. Investments into our EACV huge wager has helped us win giant offers constantly. In Q2, we received a USD 60 million plus deal – the third consecutive quarter of wins in the USD 50 to 100 million TCV vary for the Transportation phase.

    

We had an excellent quarter in offers wins, particularly in Europe the place we closed a document excessive reserving. There is robust demand for Digital Manufacturing Services with applications being initiated round manufacturing facility automation and digital twin which are enabling us to ship fast ROI to our Industrial Products and Plant Engineering prospects.

 

Even as macro-economic uncertainties prevail, we do see buyer investments persevering with unabated in the six huge bets. Our innovation led engineering and expertise choices give us the boldness of assembly our progress aspirations,” mentioned Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

Awards & (*24*):

• LTTS acknowledged as ‘Leader’ in Everest Group’s Connected Medical Device Services PEAK Matrix^® Assessment 2022
• Positioned as ‘Leader’ in Everest Group’s Autonomous, Connected, Electric, and Shared (ACES) Mobility Automotive Engineering Services PEAK Matrix^® Assessment 2021
• LTTS’ Global Engineering Academy has been named as Best Corporate Learning University in the ET Future Skills Awards 2022
• Frost & Sullivan honored LTTS with Global Energy Optimization and Sustainability Management Product Leadership Award
• LTTS’ eVOLTTS platform acknowledged as Hybrid Technology Solution of the Year by US-based AutoTech Breakthrough Awards

 

Patents

At the top of Q2FY23, the patents portfolio of L&T Technology Services stood at 976, out of which 663 are co-authored with its prospects and the remaining are filed by LTTS.

 

Human Resources

At the top of Q2FY23, LTTS’ worker power stood at 21,474.