L&T Technology Q3 Results: Net profit up 13.3% to ₹336 crore, revenue rises 12.3% YoY

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₹336.2 crore for the third quarter of FY24, registering a growth of 13.3% from ₹296.8 crore in the corresponding quarter of last year, the firm said in a regulatory filing. L&T Technology’s revenue in Q3FY24 increased 12.3% to ₹2,421.8 crore, from ₹2,157 crore, YoY. Among other details, the firm said that the EBITDA of ₹487.7 crore for the quarter was registered up 11.9 percent, from ₹435.6 crore in the corresponding quarter of last year.

The EBIT margin stood at 17.2 percent, compared to 17.3 percent YoY. ALSO READ: L&T bags mega order for high-speed electrification system for Mumbai-Ahmedabad bullet train project. Details here Meanwhile, the firms said that At the end of Q3FY24, LTTS’ employee strength stood at 23,298, while the patents portfolio of L&T Technology Services stood at 1,249, out of which 811 are co-authored with its customers and the rest are filed by LTTS.

“We have made notable progress in each of our new-technology focus areas – AI, software defined vehicles (SDV) and cybersecurity. In AI, we filed 53 patents across segments like Transportation, Medical and Industrial Products. We had our first major win in SDV with a US OEM to define the architecture of their next generation automobiles.

And continuing our SWC leveraged global deal wins, we won a $10M plus deal in cybersecurity. These wins are a testimony to our differentiated offerings that enable us to become strategic partners to our customers," said Amit Chadha, CEO and MD, L&T Technology Services Limited. "All 5 segments grew positively for the second quarter in a row giving us 1% sequential growth despite the seasonal softness.