IT Consulting & Software company L&T; Technology Services announced Q3FY24 results: Financial Performance Highlights Revenue: Rs 24,218 million, marking a 12.3% YoY increase and a 1.5% QoQ growth. Net Profit: Stood at Rs 3,362 crore, which is a 13% YoY increase. USD Revenue: $290.7 million, up by 11% YoY and up 1% QoQ. EBIT Margin: Reported at 17.2%. Operational Performance The company signed six TCV deals worth over USD 10 million each, including one USD 40 million deal and one USD 20 million deal. Notable progress in new-technology focus areas including Al, software-defined vehicles (SDV), and cybersecurity with a total of 53 patents filed across different segments. Strategic Developments Large Deals: Secured a significant relationship with BP to drive digital transformation. New Technology Focus: Progressed in Al, SDV, and cybersecurity with major wins including a USD 10 million deal in cybersecurity. Patents and Innovations Patents Portfolio: Now stands at 1,249, with 811 co-authored with customers. Human Resources Employee Strength: Stood at 23,298 at the end of Q3FY24. “We have made notable progress in each of our new-technology focus areas – AI, software-defined vehicles (SDV), and cybersecurity. In AI, we filed 53 patents across segments like Transportation, Medical, and Industrial Products. We had our first major win in SDV with a US OEM to define the architecture of their next-generation automobiles. And continuing our SWC leveraged global deal wins, we won a $10M plus deal in cybersecurity. These wins are a testimony to our differentiated offerings that enable us to become strategic partners to our customers. All 5 segments grew positively for the second quarter in a row giving us 1% sequential growth despite the seasonal softness. A milestone win for us was the start of a significant relationship with BP to drive digital transformation. Our operational performance was steady helping us achieve double-digit profit growth.” said Amit Chadha, CEO & Managing Director, L&T; Technology Services. Result PDF