LTTS Q3 PAT up 33.69% at Rs248.80cr on 340 bps spike in EBIT margins at 18.6% for the quarter

19 Jan 2022 , 01:24 AM

L&T Technology Services Ltd reported 20.48% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs1,687.50cr. On sequential basis, the total revenues were up 4.96%.

The company operates in the pure play engineering services segment. Even in US dollar terms, LTTS saw traction across all the vertical as dollar revenues showed 18% growth at $225 million.

The company has also declared a dividend of Rs.10 per share. LTTS is betting big on EACV (electric autonomous and connected vehicles) as the growth vehicle of future.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 33.69% at Rs248.80cr on the back of EBIT margins growing by 340 bps at 18.6%.

Revenues from digital stood at 56% which is among the best in the peer group. The EACV and the medtech segments have shown the best traction in top line and bottom line growth.

LTTS has also won a $45 million deal in the quarter as well as 3 deals with TCV more than $10 million. PAT margins rose from 13.29% in Dec-20 quarter to 14.74% in Dec-21 quarter. Net margins were higher qoq basis.

Financial highlights for Dec-21 compared yoy and sequentially

	L&T Technology Services
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 1,687.50	₹ 1,400.70	20.48%	₹ 1,607.70	4.96%
Net Profit (Rs cr)	₹ 248.80	₹ 186.10	33.69%	₹ 230.00	8.17%
Diluted EPS (Rs)	₹ 23.56	₹ 17.63		₹ 21.77
Net Margins	14.74%	13.29%		14.31%