L&T Technology Services Reports its Financial Statement

L&T Technology Services, India’s pure-play engineering services company, has announced its financial statement for the fourth quarter ended March 31, 2023.

Highlights for Q4FY23 include -

·         Revenue at Rs 20,962 million; growth of 19% YoY

·         USD Revenue at $255.1 million; growth of 12% YoY in constant currency

·         EBIT margin at 18.7%

·         Net profit at Rs 3,096 million; growth of 18% YoY

During the quarter, LTTS won a USD 40 million deal and three USD 10 million plus TCV deals.

Highlights for FY23 financial statement include -

·         Revenue at Rs 80,136 million; growth of 22%

·         USD Revenue at $990 million; growth of 16% in constant currency

·         EBIT margin at 18.5%, a record high for LTTS

·         Net profit at Rs 11,698 million; growth of 22%

·         Final dividend of Rs 30 per share recommended by the Board

“FY23 was a landmark year for us as we crossed a billion dollars in revenue run rate and ₹1,000 crores in annual profits. Our EBIT margin was the highest ever at 18.5% driven by a strong focus on building a robust and sustainable operating model. The combination of steady growth and expanding operating margin has led to an 18% CAGR in profits over the last 5 years.

Across our segments, we find that the top priorities for customers are innovation leveraging advanced technologies, energy transition and supply chain resilience. These priorities dovetail well with our big bets strategy and enable us to engage in larger deal conversations. Our own innovation engine is firing in tandem with a record 222 patent filings in FY23 taking the total to 1,090.

We are optimistic about the future and look for another year of strong growth as we partner with the top ER&D companies globally in developing next generation products”, said Amit Chadha, CEO & MD, L&T Technology Services at the announcement of the financial statement.

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