L&T Tech, a mid-tier IT services business, posted a net profit of Rs 336 crore for the quarter ended December, up 13% from Rs 297 crore in the same period previous year.
In the third quarter, revenue from operations increased by 12% year on year (YoY) to Rs 2,422 crore. Last year, the figure was Rs 2,157 crore.
The Board has re-appointed Amit Chadha, CEO and MD of the firm for three years with effect from April 2024.
The double-digit profit growth throughout the reporting period was driven by consistent operating success. The December quarter’s EBIT was Rs 416 crore, with a 17.2% EBIT margin.
During the third quarter, L&T Tech inked six $10 million or more transactions across all industrial groups, including one $40 million and one $20 million contract.
The business stated that its transaction pipeline remains solid, with many major deal prospects, while reiterating its USD revenue growth target of 17.5%-18.5% in constant currency.
At the conclusion of the third quarter, L&T Tech’s patent portfolio totaled 1,249, with 811 co-authored with its clients and the remainder submitted by the company.
As of December 2023, the company reported a headcount of 23,298 employees.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.