LT Technology Services Reports Strong Broad-Based Growth in Q2FY22
Mumbai Maharashtra India Business Wire India Q2 Revenue of Rs 1608 crore up 22 YoY Q2 Net profit of Rs 230 crore up 39 YoY LT Technology Services Limited BSE 540115 NSE LTTS Indias leading pure-play engineering services company announced its results for the second quarter ended September 30 2021 Highlights for Q2FY22 include Revenue at Rs 16077 million growth of 22 YoY USD Revenue at 2174 million growth of 22 YoY EBIT margin at 184 up 470 bps YoY Net profit at Rs 2300 million growth of 39 YoY Special dividend of Rs 10 per share to mark the 5-year anniversary of LTTS IPO Record date October 27 2021 During the quarter LTTS won 5 deals with TCV of USD10 million plus which includes 2 USD25 million plus deals We had a strong quarter with 6 sequential growth in constant currency driven by healthy traction in digital engineering across all our five segments The rising digital adoption across our customer base has led to our revenue from digital leading-edge technologies increasing to 55 in Q2 Medical our youngest segment crossed 100mn in annualized revenue and is a testament to our differentiated domain expertise and strategic relationships We are seeing a healthy deal pipeline and good traction in our six big bets – Electric Autonomous Connected Vehicle EACV 5G Med-tech AI Digital Products Digital Manufacturing and Sustainability Our broad-based growth was accompanied by a rise in Operating margin which at 184 is the highest we have reported We will continue the journey of investing in innovation labs and capability building that has yielded us gains in market share and operating model efficiency said Amit Chadha CEO Managing Director LT Technology Services Limited Industry Recognitions LTTS has been recognized as a Leader in Everest Groups Autonomous Connected Electric Shared Mobility Automotive Engineering study NelsonHall positioned LTTS in the Leaders Category in Digital Manufacturing Services in its NEAT Leader 2021 study ISG Group rated LTTS as Leader in IoT Consulting Services and ITOT Tech Data Convergence LTTS Finance Team was honored for excellence in Consistent Liquidity Management by BW Businessworld CFO Finance Strategy Awards 2021 Stevies International Business Award adjudged LTTS SafeX DevOps framework as the winner in the Achievement in Product Innovation category LTTS won the prestigious Association for Talent Development ATD Best Award 2021 and was ranked No 1 for Talent Development practices Patents At the end of the second quarter the patents portfolio of LT Technology Services stood at 769 out of which 556 are co-authored with its customers and the rest are filed by LTTS Human Resources At the end of Q2FY22 LTTS employee strength stood at 17983 About LT Technology Services Ltd LT Technology Services Limited LTTS is a listed subsidiary of Larsen Toubro Limited focused on Engineering and RD ERD services We offer consultancy design development and testing services across the product and process development life cycle Our customer base includes 69 Fortune 500 companies and 57 of the worlds top ERD companies across industrial products medical devices transportation telecom hi-tech and the process industries Headquartered in India we have over 17900 employees spread across 17 global design centers 28 global sales offices and 72 innovation labs as of September 30 2021 For more information please visit httpswwwlttscom PWR PWR
Mumbai Maharashtra India Business Wire India Q2 Revenue of Rs 1608 crore up 22 YoY Q2 Net profit of Rs 230 crore up 39 YoY LT Technology Services Limited BSE 540115 NSE LTTS Indias leading pure-play engineering services company announced its results for the second quarter ended September 30 2021 Highlights for Q2FY22 include Revenue at Rs 16077 million growth of 22 YoY USD Revenue at 2174 million growth of 22 YoY EBIT margin at 184 up 470 bps YoY Net profit at Rs 2300 million growth of 39 YoY Special dividend of Rs 10 per share to mark the 5-year anniversary of LTTS IPO Record date October 27 2021 During the quarter LTTS won 5 deals with TCV of USD10 million plus which includes 2 USD25 million plus deals We had a strong quarter with 6 sequential growth in constant currency driven by healthy traction in digital engineering across all our five segments The rising digital adoption across our customer base has led to our revenue from digital leading-edge technologies increasing to 55 in Q2 Medical our youngest segment crossed 100mn in annualized revenue and is a testament to our differentiated domain expertise and strategic relationships We are seeing a healthy deal pipeline and good traction in our six big bets – Electric Autonomous Connected Vehicle EACV 5G Med-tech AI Digital Products Digital Manufacturing and Sustainability Our broad-based growth was accompanied by a rise in Operating margin which at 184 is the highest we have reported We will continue the journey of investing in innovation labs and capability building that has yielded us gains in market share and operating model efficiency said Amit Chadha CEO Managing Director LT Technology Services Limited Industry Recognitions LTTS has been recognized as a Leader in Everest Groups Autonomous Connected Electric Shared Mobility Automotive Engineering study NelsonHall positioned LTTS in the Leaders Category in Digital Manufacturing Services in its NEAT Leader 2021 study ISG Group rated LTTS as Leader in IoT Consulting Services and ITOT Tech Data Convergence LTTS Finance Team was honored for excellence in Consistent Liquidity Management by BW Businessworld CFO Finance Strategy Awards 2021 Stevies International Business Award adjudged LTTS SafeX DevOps framework as the winner in the Achievement in Product Innovation category LTTS won the prestigious Association for Talent Development ATD Best Award 2021 and was ranked No 1 for Talent Development practices Patents At the end of the second quarter the patents portfolio of LT Technology Services stood at 769 out of which 556 are co-authored with its customers and the rest are filed by LTTS Human Resources At the end of Q2FY22 LTTS employee strength stood at 17983 About LT Technology Services Ltd LT Technology Services Limited LTTS is a listed subsidiary of Larsen Toubro Limited focused on Engineering and RD ERD services We offer consultancy design development and testing services across the product and process development life cycle Our customer base includes 69 Fortune 500 companies and 57 of the worlds top ERD companies across industrial products medical devices transportation telecom hi-tech and the process industries Headquartered in India we have over 17900 employees spread across 17 global design centers 28 global sales offices and 72 innovation labs as of September 30 2021 For more information please visit httpswwwlttscom PWR PWR
