L&T Technology Services Q3 Results: Profit Flat, Revenue Rises 3.1%
L&T Technology Services Ltd. recorded a flat profit of Rs 319.5 crore sequentially in the quarter ended Dec. 31, 2024. This missed the consensus estimate of Rs 373 crore shared by analysts tracked by Bloomberg.
The company's revenue grew by 3.1% to Rs 2,653 crore for the October-December quarter of fiscal 2025, according to an exchange filing on Wednesday. That compares with the Rs 2,663-crore consensus estimate of analysts tracked by Bloomberg.
LTTS Q3 FY25 Highlights (Consolidated, QoQ)
Revenue up 3.1% to Rs 2,653 crore versus Rs 2,572.9 crore.
Net profit flat at Rs 319.50 crore versus Rs 320 crore.
Ebitda up 9% to Rs 421.9 crore versus Rs 387.7 crore.
Margin at 15.9% versus 15.1%.
L&T Tech's patent portfolio includes 1,448 patents at the end of the third quarter. Out of these patents, 903 are co-authored with its customers and 545 were filed by LTTS. The company's employee strength was at 23,465.
"We had a strong quarter with 3.1% growth in constant currency, led by our tech and sustainability segments where the demand outlook has been steadily improving," Chief Executive Officer Amit Chadha said.
"In Tech, we grew by 11% sequentially, driven by ramp-ups in med-tech, hyperscalers and communication providers where we leveraged our SWC capabilities. Sustainability grew by 4% sequentially, helped by plant modernisation and automation demand." he added.
Shares of L&T Technology Services closed 3.09% higher at Rs 4,851.75 apiece on the NSE, compared to a 0.16% rise in the benchmark Nifty.
The stock has fallen 10.89% in the last 12 months. Out of 30 analysts tracing the company, six recommend 'buy' for the stock, eight suggest 'hold' and 16 maintain 'sell.' The average of 12-month analysts' price targets implies a potential upside of 4.0%.
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