L&T Technology Services revenue rises 36%

Chennai: L&T Technology Services Limited (LTTS), a subsidiary of Larsen & Toubro Limited, has announced its results for the third quarter ended 31 December, 2018. The firm has posted 36 per cent year-on-year growth in revenue and 47 per cent y-o-y growth in net profits.

Revenue stood at Rs 1,316 crore with quarter-on-quarter (q-o-q) growth of four per cent. EBITDA margin stood at 18.4 per cent; up by 310bps y-o-y.

During the quarter, LTTS bagged eight multi-million dollar deals across all industry segments. On a y-o-y basis, LTTS has increased its $50mn+ clients by two, $10mn+ clients by four and its $5mn+ clients by 10, a release stated.

‘We have sustained the double-digit growth trajectory across all industry segments by building on our excellent positioning in digital and leading-edge technologies. The strong growth achieved in the current year-to-date gives us confidence of exiting FY19 with industry leading growth once again,’ said CEO and MD, LTTS, Keshab Panda.