L&T Technology Services Limited, India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2021.
Highlights for Q3FY22 include:
- Revenue at ₹16,875 million; growth of 20% YoY
- USD Revenue at $225.1 million; growth of 18% YoY
- EBIT margin at 18.6%; up 340 bps YoY
- Net profit at ₹2,488 million; growth of 34% YoY
- Interim Dividend of ₹10 per share; Record date January 27, 2022
During the quarter, LTTS won a USD45 million deal and a total of 3 deals with TCV of USD10 million plus. Revenues from digital and leading-edge technologies stood at 56% during the quarter.
“We sustained our performance trajectory with sequential growth of 4.2% in constant currency led by strong demand across segments. The deal conversations and pipeline in our six big bets - Electric Autonomous & Connected Vehicle (EACV), 5G, Med-tech, AI & Digital Products, Digital Manufacturing and Sustainability – continues to see healthy improvement as our customers make steady progress on their long-term transformative journeys.
We are expanding our EACV global presence with the addition of an engineering R&D center in Krakow, Poland that will strengthen our strategic partnership with European and Global clients.
In line with our long-term growth prospects and strategy, we invested in hiring and onboarding a record 1,900 plus trainees leveraging our Global Engineering Academy that is focused on continuous training and upskilling. Despite the robust employee addition, we further improved our Operating margin to 18.6%, reflecting gains from investments in talent and innovation”, said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.
Patents
At the end of Q3FY22, the patents portfolio of L&T Technology Services stood at 816, out of which 578 are co-authored with its customers and the rest are filed by LTTS.
Human Resources
At the end of Q3FY22, LTTS’ employee strength stood at 20,118.
