LTTS Q1 Results: Net profit up 0.8%, misses Street expectations; margin at 15.6%

Larsen & Toubro Technology Services (LTTS) Q1 FY25 Results: Engineering services company Larsen & Toubro Technology Services (LTTS) on Thursday reported a consolidated net profit of Rs 313.6 crore for the April-June period, up 0.8 per cent compared with the corresponding period a year ago. 

Its June-quarter revenue increased 7.0 per cent on a year-on-year basis to Rs 2,461.9 crore, according to a regulatory filing.

In dollar terms, the company's revenue stood at $295 million, while its EBIT margin came in at 15.6 per cent. 

According to Zee Business research, LTTS was estimated to register a net profit of Rs 332 crore, revenue of Rs 2,535 crore or $303.5 million, and a margin of 16 per cent for the first quarter of the current financial year.

“We are making good progress with our ‘Go Deeper to Scale’ strategy and the simplification of our organisation structure into three main segments. Mobility grew by 6 per cent sequentially driven by our differentiated presence across EV, SDV and connected car technology that helped us win one $30 million deal and two $15 million deals during the quarter. In Hi-Tech and Sustainability, our new strategy is driving a significant increase in the pipeline and large deal discussions that makes us confident of a pickup in growth momentum," said Amit Chadha, CEO and Managing Director, L&T Technology Services.

During the April-June period, LTTS won two $30 million deals, two $15 million deals, and three deals with a total contract value (TCV) of $10 million.

Focused on engineering and R&D (ER&D) services, L&T Technology Services is a listed subsidiary of Larsen & Toubro.

LTTS shares ended 0.5 per cent lower at Rs 4,845.2 apiece on BSE earlier on Thursday. 

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.