L&T Technology Services: LTTS Q4 results: Consolidated PAT rises 35% YoY; gives 13.5-15.5% sales guidance for FY23

Bangalore: L&T Technology Services’ consolidated net profit for the March ended quarter rose 35% year-on-year to Rs 262 crore on strong operating performance. The company’s income as increased by 22% to Rs 1,756 crore, an increase of vertical two-digit years.

On a sequential basis, net profit grew 5% while revenue grew by 4%.

The company guided for 13.5-15.5% growth in dollar revenue for the current fiscal year. It also met dollar revenue growth guidance of 19-20% for fiscal year 22.

Projected revenue growth of road in the range of 21.5 to 22.5% on the year, while profit growth was expected in 35-41% year-on-year range.

“The rally and strong demand. However, the cloud cover around the challenges of the effects of inflation and supply sides, on which we are working. Apathy remained stable for the quarter, on a standalone basis, “Amit Chadha said, director of ET and Company Management CEO.

The Mumbai-based company won one deal over $25 million and four other deals with total contract values ​​of $10 million, a deal worth more than $100 million. Revenue from digital and cutting edge technologies accounted for 57% during the quarter.

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During the quarter, the company received a deal worth over $100 million from the electric air mobility giant Air Mobility.

“We will be the engineering partner of choice for research and development, flight control systems, cockpit display management and we will establish a center in Canada for this transaction,” Chadha said.

Operating margin for the quarter stood at 18.6%, flat sequentially, but jumped 200 basis points year over year due to “improved growth quality” and improvements in operation metrics. The Board also recommended dividend per share is Rs 15.

For the financial year ended March, the company’s consolidated revenue grew 21% to Rs. 6,570 crore and net profit up 44% to Rs 957 crore.

All verticals grew in double digits on a year-on-year basis, led by 25.5% growth in the Transportation vertical, driven by increased demand in the Electric, Autonomous and Connected Vehicles segments. The Plant Engineering vertical stood at 16.5%.

In terms of geography, India’s business grew 30.7% year over year, followed by North America at 19.7%.

The company sequentially added 743 employees. Its number stood at 20,861 at the end of March. The company’s attrition also increased to 20.4% in the March-ended quarter from 17.5% in the December quarter.

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