L&T Technology Services (LTTS) shares jumped 9.9 per cent in Thursday's trade on BSE, logging an intraday high at Rs 5,336.45 per share. The stock gained after for FY25, the company gave a guidance for near 10 per cent revenue growth in constant currency, including the contribution from Intelliswift.
"We reaffirm our medium-term outlook of $2 billion revenue with Earnings before interest and tax (Ebit) margin of 17-18 per cent," said Amit Chadha, CEO & managing director, L&T Technology Services Limited.
Chadha added: We continue to aspire for Ebit margins to be better in H2 compared to H1, on our organic book of business.
"We had a strong quarter with 3.1 per cent growth in constant currency led by our Tech and sustainability segments where the demand outlook has been steadily improving. In Tech, we grew by 11.1 per cent sequentially driven by ramp ups in MedTech, hyperscalers and communication providers where we leveraged our SWC capabilities. Sustainability grew by 4 per cent sequentially helped by plant modernization and automation demand," said Chadha.
Around 9:58 AM, L&T Tech share price was up 8.32 per cent at Rs 5,254.95 per share on BSE. In comparison, the BSE Sensex was up 0.31 per cent at 76,964.89. The market capitalisation of the company stood at Rs 55,638.98 crore. The 52-week high of the stock was at Rs 5,990 per share and the 52-week low was at Rs 4,228 per share.
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L&T Tech released its Q3FY25 results on Wednesday, after market hours. The company reported a 4 per cent decline in net profit for the quarter ended December 31, 2024, at Rs 322.4 crore as compared to Rs 336.2 crore a year ago. On a quarter-on-quarter (Q-oQ) basis, the profit after tax (PAT) was up 1 per cent.
The company's revenue for the quarter under review stood at Rs 2,653 crore, up 9.5 per cent year-on-year (Y-o-Y), as compared to Rs 2421.8 crore. On a sequential basis, the revenue was up 3 per cent. The company's operational performance was healthy with Ebit margin improving 110 basis points (bps) sequentially to 16.2 per cent (excluding one-time non-operational M&A expense), after absorbing wage hikes, as per filing.
In Q3, the company recorded highest ever deal booking total contract value (TCV) aided by eight large deals across segments - one $50 million, two $35 million, two $25 million, and three $10 million deals. The large deal pipeline has seen robust addition on the back of engagements with customers on both new age product and platform development and business transformation.
In the past one year, LTTS shares have lost 12 per cent against Sensex's rise of 5 per cent.