IT Consulting & Software company L&T Technology Services announced Q1FY25 results:
Financial Highlights:
- Revenue at Rs 24,619 million; growth of 7% YoY
- USD Revenue at USD 295 million; growth of 6% YoY in constant currency
- EBIT margin at 15.6%
- Net profit at Rs 3,136 million; growth of 0.8% YoY
Amit Chadha, CEO & Managing Director, L&T Technology Services, said: “We are making good progress with our ‘Go Deeper to Scale’ strategy and the simplification of our organization structure into three main segments. Mobility grew by 6% sequentially driven by our differentiated presence across EV, SDV and connected car technology that helped us win one USD 30 Million deal and two USD 15 Million deals during the quarter. In Hi-Tech and Sustainability, our new strategy is driving a significant increase in the pipeline and large deal discussions that makes us confident of a pickup in growth momentum.
In AI, we are accelerating our investments and innovation focus leading to a total of 61 patents being filed so far. We are starting to win AI led deals on the back of our solutions in in Gen AI across Asset Health, software development and digital assistants.
With phase one of our reorganization and related investments in technology and leadership complete, we are reassured of our performance for the rest of the year and reaffirm our aspirations to reach USD 1.5 Billion in annualized revenues.”