L-;T Technology logs 21% yoy growth in revenue for FY22; stock skids ~3%

22 Apr 2022 , 03:37 PM

L&T Technology Services Limited, India’s leading pure-play engineering services company, announced its results for the fourth quarter and financial year ended March 31, 2022.

Revenue stood at Rs1756.10 crore for Q4FY22, registering a growth of 22% yoy. Its Net Profit for the quarter under review stood at Rs262 crore; logging a growth of 35% yoy.

Its revenue grew by 21% yoy at Rs6,569.70 crore in FY22. While PAT logged growth of 44% yoy at Rs957 crore in the financial year under review.

EBIT margin for Q4FY22 stood at 18.6% and 18.3% for FY22.

The company’s board of directors also recommended a dividend of Rs15 per share.

During the quarter under consideration, LTTS won a USD 100 million plus deal, a USD 25 million plus deal, and 4 other deals with TCV of USD 10 million plus.

Company’s Revenues from digital and leading-edge technologies stood at 57% during the quarter.

L&T Technology is currently trading at Rs4,101.25 down by Rs143.1 or 3.37% from its previous closing of Rs4,244.35 on the BSE. It has touched intraday high and low of Rs4,303.95 and Rs4,030.05 respectively.