L&T Technology Services Reports Strong Revenue Growth, Deal Wins, and Margin Performance in Q2FY2

L&T Technology Services, the leading pure-play engineering services company in India, has reported strong revenue growth, deal wins, and margin performance in the second quarter of fiscal year 2024.

The company's revenue reached Rs. 23,865 million, with a year-on-year growth of 5% and a quarter-on-quarter growth of 4%. In terms of USD revenue, LTTS achieved $288.1 million, with a year-on-year growth of 2% in constant currency. The company's EBIT margin stood at 17.1%. Net profit grew by 5% year-on-year, reaching Rs. 3,154 million.

LTTS won a total of seven deals worth USD 10 million or more during the quarter. The company is investing in software defined vehicles, AI, and cybersecurity, and plans to train close to 2,000 employees in these areas.

LTTS has received several awards and recognitions in various sectors, including manufacturing industry services, automotive engineering services, smart city projects, ESG, HR innovation, and corporate leadership.

The company has a patent portfolio of 1,198, with 785 co-authored with its customers. LTTS has a total employee strength of 23,880