L&T Tech Q3 Results: Net profit drops 4.1% YoY to ₹322.4 crore, revenue surges 9.5%; firm wins eight large deals

The company had reported a revenue of ₹2,421.8 crore in the year-ago period.

In US dollar terms, the company reported a revenue of $311.9 million, up 1.7% QoQ and up 7.3% YoY, while in constant currency (CC) terms, revenue grew 3.1% QoQ and 8.7% YoY.

Its net income, or net profit, came in at ₹322.4 crore during the quarter under review. The figure is up 0.9% QoQ but down 4.1% on a YoY basis.

LTTS had reported a net profit of ₹319.6 crore in the September quarter and ₹336.2 crore in the December quarter of FY24.

EBITDA, short for earnings before interest, taxes, depreciation, and amortisation, for the quarter rose 6.2% QoQ and 1.4% YoY to ₹494.7 crore, while EBIT surged 8.8% QoQ and 1.4% YoY to ₹421.9 crore.

EBIT margin came in at 16.2%, excluding one-time non-operational M&A expenses, the company said.

LTTS' net income margin stood at 12.2%.

Basic earnings per share (EPS) for the quarter came in at ₹30.47 against ₹31.80 in the year-ago period.

LTTS Q3 FY25 Results: Here is what CEO said

The CEO added, "We had a strong quarter with 3.1% growth in constant currency led by our tech and sustainability segments, where the demand outlook has been steadily improving. In Tech, we grew by 11.1% sequentially, driven by ramp-ups in MedTech, hyperscalers, and communication providers, where we leveraged our SWC capabilities. Sustainability grew by 4% sequentially, helped by plant modernization and automation demand."

Intelliswift acquisition impact

The CEO said that with the Intelliswift acquisition now complete, LTTS has now formed a new sub-segment called Software & Platforms through which the company will strengthen its foothold in hyperscalers and enter the service-led sectors, namely retail, fintech, and healthcare, which are new and promising markets for it.

"This strategic move enhances our AI, digital, and software product engineering capabilities, delivering greater value to clients through a unified offering," the CEO added.

FY25 Guidance

For FY25, the company has guided for nearly 10% revenue growth in constant currency, including the contribution from Intelliswift. "We reaffirm our medium-term outlook of $2 billion revenue with an EBIT margin of 17-18%," the company added.

The results were announced post-market hours. Shares of the company settled over 3% higher at ₹4,852.75 apiece on the BSE.

Human Resources

At the end of Q3 FY25, LTTS’ employee strength stood at 23,465.

ESOP Allotment

LTTS' board has approved the allotment of 4,500 equity shares of face value of ₹2 each to the grantees who had exercised their vested stock options under the company’s Employee Stock Option Scheme, 2016. The said shares will rank pari passu (on equal footing) with the existing shares of the company in all respects.