L&T Technology Services reports 10% yoy growth in PAT for Q3FY20

L&T Technology Services reports 10% yoy growth in PAT for Q3FY20
L&T Technology Services reports 10% yoy growth in PAT for Q3FY20

L&T Technology Services Limited announced its results for the third quarter ended December 31, 2019.

Highlights for Q3FY20:

USD Revenue at $199mn; growth of 7% yoy
Revenue at Rs1,423cr; growth of 8% yoy
EBIT margin at 16.8%; up 30bps yoy
Net profit at Rs204.1cr; growth of 10% yoy
During the quarter, LTTS won 9 multi-million dollar deals across all major industry segments which includes 2 deals having TCV of $30mn+ each. On a YoY basis, LTTS has increased its USD20mn+ clients by 2 and its USD10mn+ clients by 4.
“Q3 results were consistent with our expectations. We had a strong performance in three segments - Transportation, Plant Engineering, and Medical Devices that are each growing in excess of 20% on YoY basis. Digital & leading-edge technologies - the growth driver for ER&D, contributed to 41% of Q3 revenues and grew by 29% YoY.

We are seeing a new set of opportunities as customers seek disruptive technologies like AI, sensor fusion and industrial robotics to strengthen their market competitiveness. As part of our strategy to be the preferred ER&D partner to our customers, we continue to invest in building competencies and design centers that will take us closer to the customer. Last quarter we opened our 9th design center outside of India - an Aerospace & Defense Engineering Design Center in Rockford, Illinois (USA) that will cater to the development of high-performance engineering solutions for the global aerospace and defense industry”, said Dr. Keshab Panda, CEO & Managing Director, L&T T echnology Services Limited.





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