- L&T Technology Services' net profit rose 2% to Rs 316.10 crore in Q1
- Revenue fell 3.9% to Rs 2,866 crore, below the Rs 2,931 crore estimate
- EBIT declined 3% to Rs 381.30 crore, missing the Rs 399 crore forecast
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, according to an exchange filing on Wednesday. That compares with the Rs 2,931-crore consensus estimate of analysts tracked by Bloomberg.
LTTS Q1 FY26 Highlights (Consolidated, QoQ)
Revenue down 3.9% to Rs 2,866 crore versus Rs 2,982 crore (Bloomberg estimate: Rs 2,931 crore).
EBIT down 3% to Rs 381.3 versus Rs 394 crore (Bloomberg estimate: Rs 399 crore).
EBIT margin at 13.3% vs 13.2% (Bloomberg estimate: 13.6%).
Net profit up 2% to Rs 316.1 crore versus Rs 311 crore. (Bloomberg estimate: Rs 317 crore).
LTTS reported a steady performance for the first quarter of financial year 2026, underpinned by continued momentum in large deals and a growing focus on AI-led innovation.
The company posted a revenue of $335.3 million for the quarter, down 2.9% quarter-on-quarter but up 13.6% year-on-year. In constant currency terms, revenue declined 4.2% sequentially but grew 12.8% on an annual basis.
Despite the sequential dip, LTTS remains optimistic about the year ahead.
"We expect to clock double-digit growth in financial year 2026 and maintain our medium-term outlook of $2 billion in revenue," Chief Executive Officer Amit Chadha said. The company continues to benefit from a multi-segment diversification strategy, with the sustainability segment delivering double-digit annual growth.
AI and automation remain central themes for LTTS, driving client engagements and deal wins. The company has deployed multiple AI-driven programmes across client projects and filed 206 patents in the domain.
The quarter also saw LTTS enhance its innovation footprint with the opening of a new design centre in Plano, Texas. The facility focuses on advanced technologies, cybersecurity and AI, and is intended to serve as a strategic hub closer to clients in key markets.
As of first quarter fiscal 2026, LTTS' patent portfolio stood at 1,550, with 952 co-authored with clients. The company's employee base reached 23,626.
"Our 'Go Deeper to Scale' strategy and investments in next-gen technologies are strengthening client relationships and building a robust large-deal pipeline," Chadha added, highlighting the company's resilience and long-term growth ambitions.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
