L&T Technology Services Limited, India’s leading pure-play engineering services company has announced its Q3 results after market hours.
Q3FY19 include:
REVENUE IN INR
Revenue stood at Rs. 13,169 million for the quarter; growth of 4% QoQ and 35.9% YoY
REVENUE IN USD
Revenue at $185.7 million for the quarter; growth of 4.8% QoQ and 23% YoY
Revenue growth in constant currency at 4.6% QoQ and 25.2% YoY
PROFIT IN INR
EBITDA at Rs. 2,417 million for the quarter; EBITDA margin at 18.4%
Net Income at Rs. 1,856 million for the quarter, down by 2.8% QoQ and up by 47.0% YoY; Net margin at 14.1%
Order Deals
During the quarter, L&T Technology Services won 8 multi-million dollar deals across all industry segments.
On a YoY basis, the company has increased its USD50mn+ clients by 2, USD10mn+ clients by 4 and its USD5mn+ clients by 10.
CEO & Managing Director Speaks –
“We have sustained the double-digit growth trajectory across all industry segments by building on our excellent positioning in digital & leading-edge technologies which has now risen to 34% of revenues. The strong growth achieved in the current year to-date gives us confidence of exiting FY19 with industry leading growth once again. On the operational front, our execution engine has been firmly focused on improving profitability along with growth. Our EBITDA margin has inched up consecutively for four quarters to 18.4% in Q3, which is an improvement of over 300 bps on YoY basis.
We continue to invest in building new capabilities and creating new labs to aid innovation. In Q3 we started a design lab for 5G where our engineers are working on new challenges and concepts. The platforms and proprietary solutions that we are developing in areas like Smart Campus, Autonomous Vehicles, NB-IoT, Digital Factory and Robotic Automation is helping LTTS to be at the forefront of the ER&D Services industry that is participating in transformational technology,”
L&T Technology Services Limited (LTTS) – a listed subsidiary of Larsen & Toubro Limited ( L&T ) focused on Engineering and R&D (ER&D) services.
LTTS’ expertise in engineering design, product development, smart manufacturing, and digitalization touches every area of our lives.
- History: L&T Technology Services Limited was incorporated as L&T Technology and Engineering Services Company Limited on June 14, 2012 at Mumbai as a public limited company.
- Business & Clients: The Company offers consultancy, design, development and testing services across the product and process development life cycle. Its customer base includes 52 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries.
- Employee Strength: Headquartered in India, LTTS has over 13,000 employees spread across 16 global design centres, 27 global sales offices and 42 innovation labs as of 30 June 2018.
Stock Price Movement
The stock ended 2.51% higher to INR 1693.40 when the market closed on Thursday! During the quarter ended 31 December 2018, the share prices of LTTS has made a low of INR 1366 and high of INR 1855
L&T Technology Services on Technical Charts
The stock price of L&T Technology Services is trading more than 14% higher when compared to its 200 EMA (1472) and marginally above when compared to its 50 EMA (1623)
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