Engineering services company L&T Technology Services Limited has reported a 6.7 per cent quarter-on-quarter(QoQ) growth in revenue at ₹18,73.7 core for the quarter ended June 30. On a year-on-year(YoY) basis, revenue grew 23.4 per cent.

The consolidated net profit for the quarter jumped to ₹274.2 crore, a 26.9 per cent increase YoY. On a sequential basis, it spiked 4.7 per cent. In dollar terms, revenue stood at  $239.5 million, a growth of 20 per cent YoY in constant currency terms. 

For the quarter, the company’s EBIT margin stood at 18.3 per cent ₹343.4 crore. It had 21,433 employees at the end of June quarter, the trailing 12-months attrition was at 23.2 per cent, higher than 20.4 per cent, recorded last quarter. 

Revenue guidance

Amit Chadha, CEO & Managing Director, LTTS, told BusinessLine, “As we move forward into quarter two and beyond, we confirm our revenue guidance of 13.5 to 15.5 per cent. We are cautiously optimistic about our process about engineering in the quarters to come.” Sectorally, growth is expected in transportation, industrial products and plant engineering. But, medical and high-tech sectors are seen with caution, he added. 

During the quarter, LTTS won a $50 million plus deal, four $15 million deals and two deals with Total Contract Value(TCV) of $10 million. The patents portfolio stood at 913, out of which 625 are co-authored with its customers and the rest are filed by LTTS.

“The firm sees a broad-based pipeline of opportunities which gives the confidence of the growth momentum sustaining,” Chadha said. 

Ahead of the results, LTTS shares closed 1.45 per cent higher at ₹3,093.7 a piece on the BSE).

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