 "L&T Technology Services net profit grows 35% to Rs 262 crore in Q4")
L&T Technology Services on Thursday reported an increase of 34.7 per cent in consolidated net profit to Rs 262 crore for the quarter ended March 2022.
The company had posted a net profit of Rs 194.5 crore in the same period a year ago.
"We achieved several milestones in FY22 a dollar revenue growth of 20 per cent in constant currency, record high operating margins, and more than three-fold increase in patents filed by our engineers.
"Our growth was broad based with all five segments growing in double digits and showing an improvement in operating margins,'' L&T Technology Services (LTTS) CEO and Managing Director Amit Chadha said in a statement.
The consolidated revenue from operations grew by about 22 per cent to Rs 1,756.1 crore from Rs 1,440.5 crore in the March 2021 quarter.
"...In the fourth quarter, we won a USD 100 million plus deal in the EACV (electric autonomous connected vehicles) space - being chosen as the strategic engineering partner for a new age electric VTOL (Vertical Takeoff and Landing) aircraft program.
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"With this deal, we have been able to extend our EACV success at auto and trucks and off highway segments, to Aerospace, reflecting our multi-domain engineering expertise," Chadha added.
For the year ended March 31, 2022, LTTS' consolidated profit grew by 44.27 per cent to Rs 957 crore, from Rs 663.3 crore in 2020-21.
The annual revenue from operations increased by 20.55 per cent to Rs 6,569.7 crore in 2021-22, from Rs 5,449.7 crore in the preceding fiscal.