L&T Technology Q3 net profit soars 47% to Rs 186 crore

Larsen & Toubro Technology Services (LTTS) Thursday reported a 47 per cent rise in its consolidated net profit to Rs 185.6 crore for the December 2018 quarter.

The company had registered a net profit of Rs 126.3 crore in the corresponding quarter of the previous fiscal, it said.

Its revenue grew 36 per cent to Rs 1,316.9 crore in the said period as against Rs 969.1 crore a year ago.

"We have sustained the double-digit growth trajectory across all industry segments by building on our excellent positioning in digital and leading-edge technologies which has now risen to 34 per cent of revenues," LTTS CEO and Managing Director Keshab Panda said.

"We continue to invest in building new capabilities and creating new labs to aid innovation," he said.

During the quarter under review, LTTS won eight multi-million dollar deals across segments. The company's revenue in US dollar terms grew 23 per cent year-on-year to USD 185.7 million.

The strong growth achieved in the current year-to-date gives LTTS confidence of exiting FY19 with industry leading growth once again, Panda said.

Its headcount stood at 14,777 at the end of the quarter, a net addition of 1,192 during the period.