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27 Years
4.4 Star
1 Crore +
IT Consulting & Software company L&T Technology Services announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue reached Rs 25,375 million, marking a growth of 7% YoY and 5% QoQ.
- USD Revenue stood at USD 305.1 million, witnessing a growth of 6.3% YoY and 5.1% QoQ in constant currency.
- EBIT margin was at 16.9%.
- Net profit amounted to Rs 3,409 million.
- LTTS signed significant deals during the quarter, including one worth USD 100 million, one worth USD 30 million, and two each of USD 20 million and USD 10 million. Additionally, a significant empanelment agreement was signed.
FY24 Financial Highlights:
- Revenue amounted to Rs 96,473 million, experiencing a growth of 9%.
- USD Revenue stood at USD 1,164 million, showing a growth of 7% in constant currency.
- EBIT margin was at 17.1%.
- Net profit reached Rs 13,037 million, marking a growth of 8%.
- The Board recommended a final dividend of Rs 33 per share.
“With a strong 5.1% sequential growth in Q4, our revenue run-rate has now crossed the USD 1.2 billion run-rate, a year after we moved past the USD 1 billion mark. We won a landmark USD 100 million deal in cybersecurity where we will architect and operate a sophisticated cyber intelligence centre by leveraging AI and Digital Forensic solutions. Our disciplined investments into new technology areas have enabled us to win larger engagements and drive a 16% CAGR in dollar revenue and 25% CAGR in profits, over the past 3 years.
We are proud of the milestones achieved in FY24 which include the successful integration of SWC into LTTS, securing several significant wins in cybersecurity and next-generation communications supported by a comprehensive portfolio, filing 54 patents in AI along with a total of 1,296 patents to date, and developing a robust pipeline of opportunities in the Software-Defined Vehicle (SDV) domain.
We are now embarking on the next stage of growth with a ‘Go Deeper to Scale’ strategy under which we will streamline our organization into 3 segments – Mobility, Sustainability and HiTech. This cohesive structure will enhance our agility and domain specialization to unlock higher value for customers and employees.” said Amit Chadha, CEO & Managing Director, L&T Technology Services.
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