L&T Technology Services Unveils Strategic Growth and Achievements in Q2FY25

L&T Technology Services announced its Q2FY25 results showcasing steady growth across key sectors like Mobility and Sustainability. With revenues hitting Rs. 25,729 million, the company also celebrated significant deals and recognitions, redefining its brand with a focus on innovation and AI-led strategies for the future.

L&T Technology Services Limited, a prominent global provider of engineering and technology services, announced robust financial results for the second quarter ending September 30, 2024. The company reported revenue of Rs. 25,729 million, marking a 4.5% quarter-on-quarter increase and an 8% rise year-over-year. U.S. dollar revenue also saw a commendable growth of 3.9% QoQ and 6.5% YoY, totaling $307 million.

The company maintained a solid EBIT margin at 15.1%, with net profits reaching Rs. 3,196 million, reflecting a 1.3% yearly increase. Shareholders were rewarded with an interim dividend of Rs. 17 per share, set with a record date of October 25, 2024. Additionally, LTTS secured major deals, including two $20 million and four $10 million TCV agreements, alongside strategic empanelments in Sustainability sectors.

CEO Amit Chadha highlighted the launch of a revamped brand positioning under the themes 'Purposeful. Agile. Innovation,' aiming to transform Mobility, Sustainability, and Tech into billion-dollar standalone segments. The strategic focus has already yielded results, with strong sequential growth, driven by Sustainability initiatives and AI solutions helping capture deals across various segments. Significant recognitions were earned, including the 2024 Caterpillar Supplier Excellence Award and high accolades from John Deere and Everest Group, further solidifying LTTS' market leadership and innovative drive.

(With inputs from agencies.)