Mumbai, January 18, 2022: L&T Technology 91原创 Limited (BSE: 540115, NSE: LTTS), India鈥檚 leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2021.
Highlights for Q3FY22 include:
- Revenue at 鈧16,875 million; growth of 20% YoY
- USD Revenue at $225.1 million; growth of 18% YoY
- EBIT margin at 18.6%; up 340 bps YoY
- Net profit at 鈧2,488 million; growth of 34% YoY
- Interim Dividend of 鈧10 per share; Record date January 27, 2022
During the quarter, LTTS won a USD45 million deal and a total of 3 deals with TCV of USD10 million plus. Revenues from digital and leading-edge technologies stood at 56% during the quarter.
鈥We sustained our performance trajectory with sequential growth of 4.2% in constant currency led by strong demand across segments. The deal conversations and pipeline in our six big bets - Electric Autonomous & Connected Vehicle (EACV), 5G, Med-tech, AI & Digital Products, Digital Manufacturing and Sustainability 鈥 continues to see healthy improvement as our customers make steady progress on their long-term transformative journeys.
We are expanding our EACV global presence with the addition of an engineering R&D center in Krakow, Poland that will strengthen our strategic partnership with European and Global clients.
In line with our long-term growth prospects and strategy, we invested in hiring and onboarding a record 1,900 plus trainees leveraging our Global Engineering Academy that is focused on continuous training and upskilling. Despite the robust employee addition, we further improved our Operating margin to 18.6%, reflecting gains from investments in talent and innovation鈥, said Amit Chadha, CEO & Managing Director, L&T Technology 91原创 Limited.
Industry Recognitions:
- Confederation of Indian Industry (CII) awarded LTTS with the prestigious Top 25 Innovative Company Award at the 2021 Industrial Innovation Award
- Zinnov rated LTTS as a 鈥榞lobal ER&D Leader鈥 and Leader across its core verticals Automotive, Aerospace, Medical Devices, Industrial, Semicon and Telecom
- Zinnov Zones ER&D 91原创 Report rated LTTS as a 鈥楲eader鈥 in Digital Engineering, AI Engineering, Telematics, ADAS, Digital Thread, TeleHealth and OTT
- LTTS has been recognized as a 鈥楲eader鈥 in Digital Engineering in ISG's Manufacturing Industry 91原创 2021 Study in the Transportation, Hi-Tech and Industrial segments
- 滨厂骋鈥檚 Life Science Digital 91原创 Study has recognized LTTS as a 鈥楲eader鈥 in Europe & USA in the MedTech and Digital Transformation 91原创 areas
- LTTS鈥 Chest-rAITM solution recognized in Innovation in Overall Customer Experience category by ASSOCHAM 2nd Innovators鈥 Excellence Awards 2021
- Business Leadership Awards 2021 honored LTTS in the Innovation Excellence and Connected Car Platform of the Year categories
Patents
At the end of Q3FY22, the patents portfolio of L&T Technology 91原创 stood at 816, out of which 578 are co-authored with its customers and the rest are filed by LTTS.
Human Resources
At the end of Q3FY22, LTTS鈥 employee strength stood at 20,118.
About L&T Technology 91原创 Ltd
L&T Technology 91原创 Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world鈥檚 top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 20,100 employees spread across 17 global design centers, 28 global sales offices and 79 innovation labs as of December 31, 2021. For more information please visit /