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The pure-play engineering services company reported 5.3% rise in consolidated net profit to Rs 262 crore on 4.1% increase in revenue to Rs 1756.10 crore in Q4 March 2022 over Q3 December 2021.
EBITDA rose 3.5% quarter-on-quarter (QoQ) and 29.8% year-on-year (YoY) to Rs 380.40 crore in Q4 FY22. EBITDA margin was at 21.7% as in Q4 FY22 as against 21.8% in Q3 FY22 and 20.3% in Q4 FY21. document.write(““);googletag.cmd.push(function(){googletag.defineOutOfPageSlot(‘/6516239/outofpage_1x1_desktop’,’div-gpt-ad-1490771277198-0′).addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();});


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L&T Technology Services (LTTS)’s USD revenue stood at $232 million for the quarter, a growth of 3.1% QoQ and 17.5% YoY. In constant currency, it reported a growth of 3.6% QoQ and 19.4% YoY.
During the quarter, LTTS won a $100 million plus deal, a $25 million plus deal and 4 other deals with total contract value (TCV) of $10 million plus. Revenues from digital and leading-edge technologies stood at 57% during the quarter.
In the year ended March 2022 (FY22), the company’s net income stood at Rs 957 crore, a growth of 44.3%. Revenue was at Rs 6569.70 crore for the year, a growth of 20.6%. In Dollar terms, it reported revenue of $880 million for the year, a growth of 19.5%. In constant currency, LTTS reported a growth of 20%.
The board recommended a final dividend of Rs 15 per share.
At the end of Q4FY22, LTTS’ employee strength stood at 20,861. The trailing 12-month attrition rate at the end of the quarter stood at 20.4% as against 17.5% in Q3 FY22 and 12.2% in Q4 FY21.
At the end of Q4FY22, the patents portfolio of L&T Technology Services stood at 868, out of which 605 are co-authored with its customers and the rest are filed by LTTS.
Amit Chadha, CEO & managing director, LTTS, said: “Our FY22 performance was strong across the six dimensions of our strategy. We achieved a dollar revenue growth of 20% in constant currency for the year, with double digit growth at each of our 5 segments and 20% plus growth at Transportation, Industrial Products and Plant Engineering. Digital and leading-edge technologies have been a growth driver and differentiator for us, and its contribution inched up to 56% in FY22. Technology quotient improved with patent filings by our engineers rising to 98 which is more than three times that of the previous year. With better quality of growth, and improvement in operating metrics, we were able to improve EBIT margins to 18.3% for the year – an improvement of 380 bps.
We are making very good progress across our six bets; in Q4, we won a $100 million plus deal in the EACV space – being chosen as the strategic engineering partner for a new age electric VTOL (Vertical Takeoff and Landing) aircraft program. With this deal, we have been able to extend our EACV success at Auto and Trucks & Off Highway segments, to Aerospace, reflecting our multi-domain engineering and technology track record and expertise.
Deal bookings continue to be strong with a total of 6 deals more than $10 million won in Q4, that includes a $100 million plus deal in EACV and another $25 million plus deal. We see a healthy deal pipeline and demand environment across segments. Our FY23 guidance is for a dollar revenue growth of 13.5-15.5%.”
LTTS is a listed subsidiary of Larsen & Toubro focused on Engineering and R&D (ER&D) services. It offers consultancy, design, development and testing services across the product and process development life cycle.
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