LTTS declines after muted Q3 performance
L&T Technology Services tumbled 4.14% to Rs 4069.35 after the company reported 0.1% rise in net profit to Rs 329.1 crore as revenue fell by 1.9% to Rs 2923.5 crore in Q3 FY26 as compared with Q2 FY26.
The companys revenue in USD terms was 326.3 million, down 3.2% YoY. In constant currency terms, revenue contracted by 2.8% sequentially.
In Q3 FY26, cost of sales added up to Rs 2,046.6 crore (down 4.6% QoQ) while selling, general & administration expenses added up to Rs 363.1 crore (up 6% QoQ).
EBIT improved by 7.3% to Rs 427.1 crore in Q3 FY26 from Rs 398.2 crore recorded in Q2 FY26.
LTTS said that several large deal bookings were recorded in Q3, including large deals worth $70 million from a global OEM, along with a $30 million deal, a $20 million program, and 5 deals above $10 million.
At the end of Q3 FY26, the patents portfolio of L&T Technology Services stood at 1,655, out of which 1,007 are co-authored with clients and the rest are filed by LTTS.
As on 31 December 2025, LTTS employee strength stood at 23,639.
Amit Chadha, CEO & managing director, L&T Technology Services, said: We sustained the momentum in large deal wins delivering an average TCV of $200 million for five consecutive quarters.
The Sustainability segment continued to grow double-digit on a YoY basis while Mobility is seeing a turnaround.
Our AI suite of offerings are evolving with the launch of new Agentic AI platforms, as we pivot to deliver full-stack Engineering Intelligence (EI) solutions, which integrates physical and digital AI for our clients products and processes.
Aligning with our 5-year Lakshya plan, we are doubling down on value accretive high-growth & high margin areas. This is already yielding results, reflected in a 120 bps QoQ improvement, with Q3 EBIT margins at 14.6%,
L&T Technology Services (LTTS) is a global leader in engineering and technology services. A listed subsidiary of Larsen & Toubro (L&T), we offer design, development, testing, and maintenance services across products and processes.
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