Introduction:
Leading engineering services provider reported a 5% dip in Q3 FY25 net profit to ₹319.5 crore, despite a 10% year-on-year revenue growth to ₹2,653 crore from ₹2,418 crore in Q3 FY23, showcasing resilience amidst rising operational expenses.
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Share price movement of L&T Tech:
On January 16, 2025, L&T Technology Services Ltd opened at ₹4,960.05, up 2.24% from its previous close of ₹4,851.35. The stock reached a high of ₹5,336.45 (9.99%) and a low of ₹4,960.05. By 10:12 AM, it traded at ₹5,195.00, a 7.08% increase, with a market cap of ₹55,001.10 crore.
L&T Tech ReportsQ3 FY25 Results; Net Profit Declines:
L&T Technology Services Ltd. (LTTS) reported a 5% decline in Q3 FY25 net profit to ₹319.5 crore, down from ₹336.8 crore in Q3 FY24. However, revenue from operations rose by 10% year-on-year to ₹2,653 crore from ₹2,418 crore in Q3 FY23.
The company’s expenses grew 11.3% year-on-year to ₹224.66 crore, driven by employee benefit costs of ₹139.51 crore. Despite increased costs, LTTS maintained strong revenue growth, highlighting resilience amidst rising operational challenges.
Year-on-year revenue growth of 9.55% reflects LTTS’s consistent demand for its services. Management remains focused on operational efficiency and innovation to sustain growth. The results underline LTTS’s strategic focus in a competitive market.
Recent news on L&T Tech:
As of November 11, 2024, L&T Technology Services announced a $110 million acquisition of Intelliswift, a Silicon Valley-based firm, to enhance software, AI, and platform engineering offerings while gaining access to marquee clients in retail and fintech.
Stock performance of L&T Tech for Period of 1 week, 6 months and 1 year:
L&T Technology Services Ltd’s stock saw a 0.57% decline over the past week, a 0.58% dip over six months, and a significant 12.4% drop over the last year, reflecting persistent performance challenges.
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Shareholding pattern of L&T Tech:
All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
Promoter | 73.70% | 73.70% | 73.70% |
FII | 4.40% | 4.50% | 5.50% |
DII | 14.00% | 13.30% | 12.30% |
Public | 8.00% | 8.50% | 8.40% |
About L&T Tech:
L&T Technology Services Ltd. (NSE: LTTS), founded in 2012, specializes in engineering, research and development (ER&D), and digitalization. Serving 69 Fortune 500 companies, it operates across transportation, telecom, medical devices, industrial products, and plant engineering.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.