L&T Technology Services surges over 10% on good Q3 results

The stock surged 13% to Rs 1,145 on BSE, trading close to its record high of Rs 1,150 touched on January 4, 2018 in intra-day trade.

L&T Technology Services (LTTS) surged 10% to Rs 1,116 on the National Stock Exchange (NSE) in early morning trade after the company reported sequential US dollar revenue growth of 8.3% at $ 151 million in October-December quarter (Q3FY18). On constant currency basis revenue growth during the quarter under review at 8.3% over the July-September (Q2FY18) quarter.

On rupee term, the company’s net profit grew 2.8% at Rs 1,263 million in Q3FY18 against Rs 1,152 million in Q2FY18. Revenue was up 7.6% at Rs 9,691 million over the previous quarter.

“We delivered broad based growth with all verticals registering