The sustained double-digit top-line growth in Q2 reflects the strengths of the company across a wide spectrum of industries and the focused investments into capability building, said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the second quarter ended September 30, 2019.
Highlights for Q2FY20 include:
- USD Revenue at 198 million; growth of 12 per cent YoY in constant currency
- Revenue at Rs 14,021 million; growth of 11 per cent YoY
- EBIT margin at 17 per cent; up 110bps YoY
- Net profit at Rs 2,058 million; growth of 8 per cent YoY
- Interim Dividend of Rs 7.5 per share (Record date October 31, 2019)
During the quarter, LTTS won eight multi-million dollar deals across all major industry segments, including new digital engineering programs for automotive, medical devices and plant engineering customers. On a YoY basis, LTTS has increased its USD 20million plus clients by four and its USD 10million plus clients by three.
“The sustained double-digit top-line growth in Q2 reflects the strengths of the company across a wide spectrum of industries and the focused investments into capability building. In Q2, three of our verticals – Transportation, Plant Engineering, and Medical Devices grew in excess of 20 per cent on YoY basis”, said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
“We continue to see significant growth opportunities ahead. Our conversations with customers indicate that spends on areas such as cognitive engineering, cyber-security, and engineering analytics are becoming more pervasive and are leading to the development of next-generation smart products, services and operations. LTTS’ portfolio of offerings in digital and leading-edge technologies which accounts for 39 per cent of revenue, is rightly positioned to capture such opportunities”, added Panda.
“In a short span of time, LTTS has been recognized as a leader in the Automotive Engineering Services space by Everest, a validation of the impactful customer programs we are delivering”, he added.
Everest Group has named LTTS as a leader for automotive engineering services in its Peak Matrix™ assessment study.
LTTS was lauded as a “Star Performer” in the segment because of noteworthy progress across its automotive engineering capabilities and the resultant market impact.
Recognized as the ‘Best Company for Excellence in Services’ by the Indo-American Chamber of Commerce, West India Council (IACC-WIC).
The award was presented to LTTS by the Chief Guest, Nitin Gadkari, Minister for Road Transport & Highways and Micro, Small and Medium Enterprises.
LTTS was recognized at the BML Munjal Awards for Business Excellence through Learning & Development in the private services category. The award was presented to LTTS by Pranab Mukherjee, Former President of India.
Adjudged as the Gold Winner of the Stevie® Award for Best Employer of the Year 2019.
At the end of the second quarter, the patents portfolio of L&T Technology Services stood at 416, out of which 300 are co-authored with its customers and the rest are filed by LTTS.
At the end of Q2FY20, LTTS’ employee strength stood at 16,789 a net addition of 876 during the quarter. (ANI)
L&T Technology Services, India’s leading pure-play ER&D services company continues double-digit revenue growth in Q2FY20.— L&T Technology Services (LTTS) (@LnTTechservices) October 18, 2019
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