IT Consulting & Software company L&T; Technology Services announced Q2FY25 results Revenue at Rs 25,729 million; growth of 4.5% QoQ growth of 8% YoY. USD Revenue at USD 307 million; growth of 3.9% QoQ and 6.5% YoY. EBIT margin at 15.1%. Net profit at Rs 3,196 million; growth of 1.3% YoY. Interim Dividend of Rs 17 per share; Record date October 25, 2024. Amit Chadha, CEO & Managing Director, L&T; Technology Services said: “I am happy to launch a new brand positioning Purposeful. Agile. Innovation. The brand refresh will create a platform for the future, helping us to scale in 3 strategic segments – Mobility, Sustainability and Tech, and build each of them into standalone billion-dollar units. These segments have already started to show results aided by our ‘Go Deeper to Scale’ strategy which we embarked on at the start of the year. We had strong sequential growth of 4% in Q2 led by Sustainability at 6.5% on the back of earlier large deals and empanelment agreements. Mobility also had a strong showing with 5% growth driven by our differentiated story on SDV and hybridization. We are seeing an uptick in AI-led deal conversations, and our portfolio of AI solutions & accelerators is helping win deals in our focus areas across segments. We have filed a total of 165 patents in AI in till date. With our pipeline comprising larger sized deals involving consolidation as well as advanced technology led transformation, we are confident about the vision we set for ourselves and our medium-term outlook of USD 2 billion revenue with EBIT margin of 17-18%.” Result PDF
Conference Call with L&T; Technology Services Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company L&T; Technology Services announced Q1FY25 results: Financial Highlights: Revenue at Rs 24,619 million; growth of 7% YoY USD Revenue at USD 295 million; growth of 6% YoY in constant currency EBIT margin at 15.6% Net profit at Rs 3,136 million; growth of 0.8% YoY Amit Chadha, CEO & Managing Director, L&T; Technology Services, said: “We are making good progress with our ‘Go Deeper to Scale’ strategy and the simplification of our organization structure into three main segments. Mobility grew by 6% sequentially driven by our differentiated presence across EV, SDV and connected car technology that helped us win one USD 30 Million deal and two USD 15 Million deals during the quarter. In Hi-Tech and Sustainability, our new strategy is driving a significant increase in the pipeline and large deal discussions that makes us confident of a pickup in growth momentum. In AI, we are accelerating our investments and innovation focus leading to a total of 61 patents being filed so far. We are starting to win AI led deals on the back of our solutions in in Gen AI across Asset Health, software development and digital assistants. With phase one of our reorganization and related investments in technology and leadership complete, we are reassured of our performance for the rest of the year and reaffirm our aspirations to reach USD 1.5 Billion in annualized revenues.” Result PDF