L&T Technology gains 7% on healthy Q4 results

Shares of L&T Technology Services (LTTS) have rallied 7% to Rs 1,367 per share on the BSE in otherwise subdued market after the L&T Group company reported a higher than expected quarter-on-quarter (QoQ) revenue growth of 8% at $162 million in March 2018 quarter (Q4FY18).
“During the fourth quarter, growth was broad-based with healthy traction across all segments on sequential basis. LTTS won five multi-million dollar deals across process industry, telecom & hi-tech and transportation. On YoY basis, LTTS has increased its USD 40 million + annual billing clients by two, and its USD 10 million+ clients by three,” the company said in a press release.


Net profit of the company during the quarter under review jumped 26% QoQ and 66% year on year (YoY) at Rs 1,588 million. Revenue for the quarter grew 9% QoQ and 30% YoY at Rs 10,548 million, it added.

LTTS feel confident about growth momentum continuing in FY19 as it see broad based demand and a strong positioning in all five industry segments.

“To drive sustainable revenue and profit growth, the company will continue to fill white spaces in both technology and domain through acquisitions and at the same time improve operational parameters for better margins.” said Dr Keshab Panda, CEO & Managing Director, LTTS.