L&T Technology Services slips 8% on disappointing June quarter results

In Q1FY21 EBIT margins fell 310 bps QoQ to 12.1 per cent.

Shares of L&T Technology Services (LTTS) slipped 8 per cent to Rs 1,325 in the intra-day trade on the BSE on Friday on profit booking after the company reported a disappointing set of June quarter (Q1FY21) numbers. In the past three weeks, the stock of L&T group company had rallied 14 per cent, as compared to a 4.7 per cent rise in the S&P BSE Sensex.

In Q1FY21, LTTS’s revenues stood at 193.9 million, down 12.7 per cent quarter-on-quarter (QoQ), 10.9 per cent year-on-year (YoY) in constant currency terms. Rupee revenues declined 10.5 per cent QoQ at Rs 1,347 crore. EBIT