L&T Technology Services reports sequential growth in PAT and revenue

Net profit of the company was at Rs194.5cr, growth of 4.5% qoq from Rs186.1cr in Q3FY21, and a decline from Rs204.8cr in Q4FY20.

May 04, 2021 10:05 IST India Infoline News Service

L&T Technology Services Limited, India’s leading pure-play engineering services company, on Monday announced its results for the fourth quarter and full year ended March 31, 2021.

The company’s revenue stood at Rs1,440.5cr; growth of 2.8% qoq to Rs1,400.7cr, and a decline from 1,446.6cr in Q4FY20. The revenue for FY21 stood at Rs5449.7cr, a decline of 3% yoy compared to Rs5619.1cr in FY20.

Net profit of the company was at Rs194.5cr, growth of 4.5% qoq from Rs186.1cr in Q3FY21, and a decline from Rs204.8cr in Q4FY20. Net profit for FY21 was at Rs663.3cr; decline of 19% yoy from Rs818.6cr in FY20.

Revenue in USD terms for Q4 was at $197.5 million; growth of 3.9% qoq. For FY21 USD Revenue was at $737 million; decline of 6.3%. EBIT margin in Q4 at 16.6%; up 140 bps qoq and for FY21, EBIT margin at 14.5%.

During the quarter, LTTS won 6 deals with TCV of USD10 million plus, which includes 2 USD25 million plus deals. Revenues from digital and leading-edge technologies stood at 52% during the quarter.

“We are exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement. The annual free cash flow generation at Rs1,252cr was at a record high. I am happy to note that in Q4, our revenue is back on the positive year-over-year growth path.

We are seeing healthy deal win closures and pipeline build up as customers look for innovation and digital led transformation to strengthen their market positioning. Across all our five segments, we are investing in disruptive technologies and design labs to further the growth. As we continue to execute in an environment made difficult by Covid uncertainties, I would like to thank our employees for their commitment, customer focus and resilience that has helped us deepen strategic relationships”, said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

At around 10.10 am, L&T Technology Services Ltd was trading at Rs2,586.55 per piece down by Rs210.35 or 7.52% from its previous closing of Rs2,796.90 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)