Rs 33/share dividend: L&T Tech Services announces final dividend along with Q4 results

L&T Technology Services dividend, L&T Technology Services Q4 results: L&T Technology Services (LTTS) on Thursday, April 25, announced a final dividend of Rs 33 per share for the fiscal year 2024, along with the release of March quarter results (Q4 FY24). The dividend payout ratio for the year stands at 41 per cent. 

The company reported revenue of Rs 2,537.5 crore for the quarter under review, up 4.8 per cent QoQ and 7 per cent YoY. In US dollar terms, revenue stood at $305.1 million, up 5 per cent QoQ and 5.8 per cent YoY, while in constant currency terms, the company registered a growth of 5.1 per cent QoQ and 6.3 per cent YoY. Net profit came in at Rs 340.9 crore, up 1.4 per cent QoQ and 0.2 per cent YoY. Net margin came in at 13.4 per cent for the quarter. 

EBIT, or earnings before interest and tax, for the company came in at Rs 428.2 crore, up 16.9 per cent. Analysts at Zee Business had pegged the figure at Rs 445 crore. 

"For FY25, our guidance is for 8–10 per cent revenue growth in constant currency (USD revenues based on 4QFY24 rates)," Amit Chadha, the CEO and MD of the company, said.

"We delivered 17.9 per cent revenue growth in FY24 and crossed the $1.2 billion run rate 12 months after we moved past the $1B mark. In Q4, we had a strong sequential growth of 5.1% which was led by Telecom & Hitech and Plant Engineering. Our deal wins were healthy, with one USD 100 million, one USD 30 million, and two each of USD 20 million & USD 10 million deals, as well as a significant empanelment," the CEO said.

We are very pleased with the landmark USD 100 million deal in cybersecurity, where we will architect and operate a sophisticated cyber intelligence centre by leveraging AI and digital forensic solutions," Chadha added.

Dividend update

The company said that its board has recommended a final dividend of 1,650 per cent i.e., Rs 33 per equity share with a face value of Rs 2.00 each, subject to the approval of the shareholders of the company, which, if approved, shall be paid or dispatched within thirty days from the conclusion of the annual general meeting of the company. The record date for the final dividend will be announced later.