L&T Technologies Services Ltd.' net profit for the third quarter of FY26 fell 7.9% sequentially, according to an exchange filing on Thursday. The IT major joined its peers in the list of companies provisioning one-time impact for the new labour codes.
L&T Tech reported a consolidated bottom-line of Rs 302.6 crore compared to Rs 328.7 crore in the preceding quarter.
Further, the company informed that the new labour codes, which came into effect from November 2025, resulted in a "material increase" in provisions for employee benefits on account of recognition of "past services cost." Therefore, L&T Tech made a one-time provision of Rs 35.4 crore for the same.
However, Revenue for the IT company also went down 2% to Rs 2,923 crore from Rs 2,979 crore in the Q2 FY26.
On the other hand, earnings before interest and tax saw an uptick of 7% to Rs 426.70 crore from Rs 397.80 crore. EBIT margin also expanded to 14.6% from 13.4%.
L&T Tech Q3 Highlights (Cons, QoQ)
Net Profit down 7.9% at Rs 303 crore versus Rs 329 crore
Revenue down 1.9% at Rs 2,924 crore versus Rs 2,980 crore
EBIT up 7.3% at Rs 427 crore versus Rs 398 crore
Margin at 14.6% versus 13.4%
Deal Wins
According to to the company's press release, several large deal bookings were recorded in Q3, including large deals worth $70 Mn from a global OEM, along with a $30 Mn deal, a $20 Mn program, and 5 deals above $10 Mn.
"We sustained the momentum in large deal wins delivering an average TCV of $200 million for five consecutive quarters. The Sustainability segment continued to grow double-digit on a YoY basis while Mobility is seeing a turnaround," said Amit Chadha, CEO & Managing Director, L&T Tech.
Headcount
The company's headcount at the end of Q3 FY26 stood at 23,639.
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