L&T Tech Q1 Attrition Rate Rises To 14.8%, Headcount Drops By 630 Employees

L&T Tech announced its April-June quarter results for the current fiscal (Q1FY26) and reported an attrition rate of 14.8%, compared to 14.3% in the preceding March quarter of previous fiscal (Q4FY25). The Larsen & Toubro (L&T)'s tech subsidiary's total employee headcount dropped sequentially by over 630 employees to 23,626 in the quarter-under-review.

The attrition rate measures the rate at which employees leave a company over a period of time. A lower rate is generally considered healthy for a company. The 12-month attrition rate of 14.8% in the June quarter stood at par with the same figure reported in the year-ago period.

According to a regulatory filing by the tech major to the stock exchanges, L&T Tech's total headcount stood at 24,258 employees in the preceding March quarter of FY25—a difference of 632 employees compared to the quarter-under-review. Additionally, the total headcount stood at 23,577 in the year-ago period, which means the headcount rose by 49 employees in the first quarter of current fiscal on a year-on-year (YoY) basis.

L&T Technology Services Ltd.'s net profit rose 2% and met expectations in the first quarter. Revenue of the L&T Group company fell 3.9% over the previous three months to Rs 2,866 crore in the quarter ended June. That compares with the Rs 2,931 crore consensus estimate of analysts tracked by Bloomberg.

The revenue in USD stood at $335.3 million for the quarter; down 2.9% sequentially and up 13.6% YoY. In constant currency terms, L&T Tech Services' revenue was down 4.2% sequentially and was up 12.8% YoY.

The tech services company's EBIT came down 3% sequentially to Rs 381.30 crore in the June quarter versus Rs 394 crore. This compared to the Bloomberg estimate of Rs 399 crore. The EBIT margin came in at 13.3% compared to 13.2% (versus Bloomberg estimate of 13.6%).