L&T Technology Services shares in focus post Q2 margin miss. Should you invest?
LTTS) shares will be in focus on Thursday following the company's report of a marginal 2% increase in its consolidated net profit, reaching Rs 320 crore for the quarter ended September 2024, up from Rs 315 crore a year ago.
In the same reporting period, revenue from operations rose by 8% year-on-year (YoY) to Rs 2,573 crore, compared to Rs 2,386 crore in the previous year.
On a sequential basis, the company's revenue increased by 4% quarter-on-quarter (QoQ), while, in dollar terms, it grew 6% YoY to $307 million. However, the EBIT margin for the quarter stood at 15.1%, reflecting a decline of 50 basis points from the previous quarter.
During this quarter, LTTS secured two deals worth $20 million and four deals of $10 million in Total Contract Value (TCV). Additionally, the company entered into two significant empanelment agreements focused on sustainability.
Amit Chadha, CEO & Managing Director of L&T Technology Services, stated, «With our pipeline comprising larger-sized deals involving consolidation as well as advanced technology-led transformation, we are confident about the vision we set for ourselves and our medium-term outlook of $2 billion in revenue with an EBIT margin of 17-18%.»
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