L&T Technology Services reports 13% rise in net profit in Apr-June quarter

The profits were, however, down 8.5% sequentially as compared to Rs 340.1 crore in the previous quarter

L&T Technology Services on Tuesday reported a 12.9 per cent rise in its net profit for the quarter that ended on June 30 to Rs 311.1 crore from Rs 275.4 crore in the same quarter last year. The total income of the company rose by 14.71 per cent to Rs 230.14 crore, the company said in a BSE filing.

The profits were, however, down 8.5 per cent sequentially as compared to Rs 340.1 crore in the previous quarter. 

The company's revenue from operations in Q1 came in at Rs 2,301 crore, which is including its acquisition of SWC. After factoring in the acquisition of SWC (completed on April 1), LTTS' revenues were down 2.9 per cent QoQ and up 14.7 per cent YoY.

 

Organically, revenue for the quarter came in at Rs 2,109 crore, up 0.6 per cent sequentially.