Q4 Revenue of $197.5mn, up 4% QoQ
Q4 Net profit of ₹195 crore, up 5% QoQ
L&T Technology Services Limited (LTTS), India’s leading pure-play engineering services company, registered a net profit of Rs 1,945 million during the fourth quarter ending fiscal 2021, registering a growth of 4.5% QoQ.
The company’s revenue also grew by 2.8% Revenue at ₹14,405 million; growth of 2.8% QoQ
Highlights for Q4FY21 include:
- Revenue at ₹14,405 million; growth of 2.8% QoQ
- USD Revenue at $197.5 million; growth of 3.9% QoQ
- EBIT margin at 16.6%; up 140 bps QoQ
- Net profit at ₹1,945 million; growth of 4.5% QoQ
Highlights for FY21 include:
- Revenue at ₹54,497 million; decline of 3%
- USD Revenue at $737 million; decline of 6.3%
- EBIT margin at 14.5%
- Net profit at ₹6,633 million; decline of 19%
- Board has recommended a final dividend of ₹14.50 per share
During the quarter, LTTS won 6 deals with TCV of $10 million plus, which includes two $25 million plus deals. Revenues from digital and leading-edge technologies stood at 52% during the quarter.
L&T Technology Services Limited CEO & Managing Director Amit Chadha the company is exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement.
“The annual free cash flow generation at ₹1,252 crores was at a record high. I am happy to note that in Q4, our revenue is back on the positive year-over-year growth path,” he said.
Amit Chadha also highlighted the fact that LTTS is seeing healthy deal win closures and pipeline build up as customers look for innovation and digital led transformation to strengthen their market positioning.
“Across all our five segments, we are investing in disruptive technologies and design labs to further the growth,” he said.
Amit Chadha also pointed out that as the company continues to execute in an environment made difficult by Covid uncertainties, the company would like to thank employees for their commitment, customer focus and resilience that has helped LTTS deepen strategic relationships.
- LTTS has been recognized as a ‘Leader’ for Development and Verification & Validation services in Industry 4.0 by Everest Group
- ISG Group rated LTTS as ‘Leader’ in Smart Manufacturing Services for Automotive and Hi-Tech
- LTTS won the 2021 Big Innovation Awards, USA for Chest rAI™ and i-BEMS™.
- For its Solar Electrification tribal village project, LTTS was conferred with the Mahatma Award for CSR Excellence.
At the end of the fourth quarter, the patents portfolio of L&T Technology Services stood at 650, out of which 485 are co-authored with its customers and the remaining 165 have been filed by LTTS.
According to company disclosure, at the end of Q4FY21, LTTS’ employee strength stood at 16,452.