LTTS’ net profit grew 0.2% to Rs 341 crore
LTTS) reported a net profit of Rs 341 crore in the March quarter of FY24, up 1.4% quarter on quarter (QoQ). The profit for the company grew by just 0.2% on-year.
The muted growth in profit comes on the back of the company seeing a marginal decline in its operating margin which fell from 17.2% in Q3 to 16.9% in Q4, a fall of 30 basis points (1.7%). A year ago, the company’s operating margin was at 17.9%.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThe revenue for the Vadodara-based company in Q4 stood at Rs 2,537 crore, up 5% sequentially. In December quarter, the engineering service provider posted a revenue of Rs 2,422 crore.
During the quarter, LTTS signed one $100 million, one $30 million and two deals each of $20 million and $10 million. Amit Chadha, CEO and MD, LTTS, said, “With a strong 5.1% sequential growth in Q4, our revenue run-rate has now crossed the $1.2Bn run-rate, a year after we moved past the $1Bn mark. We won a landmark $100 million deal in cybersecurity where we will architect and operate a sophisticated cyber intelligence centre by leveraging AI and Digital Forensic solutions.”
He added, “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
