L&T Technology Services Reports Q3FY21 With Growth Across All Five Segments
| |
 |
|
|
|
|
|
|
|
| 
|
Date: 20-01-2021 7:41PM
Source: L&T Technology Services Limited
Category: Business/ Finance, Financial Analyst & Investors, General, Human Resources & Consultancy Services, Internet, Cyber Security, Information Technology, Healthcare & Biotechnology, Medical Devices, Business Services, Manufacturing Companies, Technology, It & Tech
Location: Mumbai, Maharashtra, India
Business Wire IndiaL&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2020.
Highlights for Q3FY21 include:
- USD Revenue at $190 million; growth of 6.8% QoQ
- Revenue at Rs 14,007 million; growth of 6.6% QoQ
- EBIT margin at 15.2%; up 150 bps QoQ
- Net profit at Rs 1,861 million; growth of 12.4% QoQ
During the quarter, LTTS won 7 deals with TCV of USD10 million plus, which includes a USD100 million plus deal and 2 USD15 million plus deals. Revenues from digital and leading-edge technologies stood at 49% during the quarter.
“We had a strong performance with sequential improvement in both revenue and operating margin. All five of our industry segments grew sequentially, with three segments recording growth of 5% plus. Deal wins were especially strong in the quarter helped by a marquee USD100M plus engagement with an O&G major - a validation of our best-in-class domain expertise and deep customer relationships.
The deal pipeline is healthy across segments as customers prioritize business transformation to improve efficiency and productivity. We are leveraging newer technologies like Digital Thread, IoT and AI to further our positioning as innovation partners to our customers. I would like to highlight that the strong uptick in Industrial Products has been led by deals involving digital led transformational programs,” said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
Industry Recognitions:
- LTTS won the Indian Digital Enabler Awards 2020 award in the ‘Best Tech for Healthcare’ category for XYZ Synthesizer, a scalable solution that can be easily extended for all kinds of digital & optical microscopes
- CIMS Medica honored LTTS as the “Company of the Year” in the Best Medical Devices Equipment category for the three-part haematology analyzer, built in partnership with Agappe Diagnostics
- Zinnov Zones rated LTTS as ‘Leader’ across Digital Engineering, IoT, AI and Digital Thread, and named the Company as Leader in 6 major verticals for the fourth consecutive year
- LTTS won Gold in the Golden Bridge Grand Awards 2020 in the “Human Resource Team” and “Best Use of Rewards and Recognition” categories
- Confederation of Indian Industry (CII) honored LTTS with the HR Excellence Awards 2020
Patents
At the end of the third quarter, the patents portfolio of L&T Technology Services stood at 593, out of which 440 are co-authored with its customers and the rest are filed by LTTS.
Human Resources
At the end of Q3FY21, LTTS’ employee strength stood at 16,069.
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 53 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,000 employees spread across 17 global design centers, 28 global sales offices and 62 innovation labs as of December 31, 2020.
|
More Press Releases C3.ai Digital Transformation Institute Announces AI for Energy and Climate Security Grantees Moody’s Launches Moody’s Moments Video Series Providing Insight into Corporate Strategy IDEMIA Signs With Storstockholms Lokaltrafik “SL” to Launch the World’s First Ever Public Transport EMV White Label Cards Celebrity Face: India's No.1 Platform for Aspiring Content Creators and Fans to Photoshoot with Top Celebrities Tally Solutions Announces the First Edition of MSME Honours Sourced from the Himalayan Regions, Moving to the Wonders of Australia - BOHECO Joins Hands with Spring Sciences Australia Moneycontrol App's Monthly Active Users Six Times Larger Than Its Closest Competitor for May 2021 - Similarweb Healthcare Cloud Unicorn, Innovaccer, Certified as a Great Place to Work® Company The Nation Gears up for the First-ever Edition of National Poker Series, India DXC Technology Welcomes Brenda Tsai as Chief Marketing and Communications Officer Schlumberger New Energy and Panasonic Energy of North America Announce Strategic Collaboration on New Battery-Grade Lithium Production Process Fashion Designer Sanjukta Dutta Contributes Towards the Vaccination Drive Held in Assam Under the Guidance of Honorable Chief Minister Dr. Hemanta Biswa Sarma Western Union Accelerates Digital Money Movement for Postal Networks Worldwide NMIMS School of Branding and Advertising Partners with 120 Media Collective and Advertising Standards Council of India High-Touch Spectacles Now Made Virus Free by ZEISS DuraVision AntiVirus Platinum UV IRM India Affiliate Announces Results for May 2021 Level-1 Examination Wipro Annual Report 2021 on Form 20-F Available Online for ADS Holders RSA Introduces Outseer, a Spinout of its Fraud & Risk Intelligence Unit, to Transform Customer Authentication and Accelerate Revenue for the Digital Economy Abu Dhabi Based Tablez to Expand Upon Investment in India’s Toys Sector With Its Proprietary Brand
|
