L&T Tech Net Profit Rises 39% To Rs 230 Crore In September Quarter

L&T Tech's revenue from operations in the second quarter of the current fiscal stood at Rs 1,607.7 crore, compared to Rs 1,313 crore in the year-ago period

L&T Tech Net Profit Rises 39% To Rs 230 Crore In September Quarter

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

L&T Technology Services Limited - 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, compared to Rs 165.5 crore in the corresponding period last year, marking a growth of 39 per cent year-on-year.

The company's revenue from operations in the second quarter of the current fiscal stood at Rs 1,607.7 crore, compared to Rs 1,313 crore in the same period last year, registering a growth of 22.4 per cent year-on-year, according to a regulatory filing by the company to the stock exchanges today. 

During the September quarter, L&T Tech won five deals with TCV of over $10 million , which includes two $25 million plus deals. The company's board declared a special dividend of Rs. 10 per equity share. 

"We had a strong quarter with six per cent sequential growth in constant currency driven by healthy traction in digital engineering across all our five segments. The rising digital adoption across our customer base has led to our revenue from digital & leading-edge technologies increasing to 55 per cent in Q2.

Our broad-based growth was accompanied by a rise in operating margin which at 18.4 per cent is the highest we have reported. We will continue the journey of investing in innovation labs and capability building, that has yielded us gains in market share and operating model efficiency", said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

On Tuesday, October 19, shares of L&T Tech settled 5.53 per cent higher at Rs 5,123.40 apiece on the BSE. L&T Tech's shares rallied around six per cent today ahead of the announcement of quarterly results. 

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