LTTS Q1 net profit rises 3% to Rs 204 cr on the back of multiple deal wins

Weakness in telecom and hitech vertical led to downward revision of revenue guidance to 12-14% against 14-16% earlier

Mid-tier engineering services firm, L&T Technology Services (LTTS) reported a 3 per cent rise in its net profit at Rs 203.9 crore in the first quarter of ongoing financial year (Q1FY20). Net profit of the firm grew at 3.2 per cent in sequentially.

Revenues of the company rose 17 per cent year-on-year (YoY) to Rs 1,347.5 crore during this period, which remained almost flat in sequential terms. In dollar terms, revenues of the firm stood at $194 million, a growth of 15 per cent YoY and 1.4 per cent in sequential terms.

"We had a strong quarter in most of