L&T Technology Services rose 2.19% to Rs 4641.05 after the company announced that it has been recognized as a Global Preferred Engineering Supplier for European multi-national aerospace major Airbus.
Under the EMES3 (Engineering, Manufacturing Engineering and Services Strategic Suppliers) program, the Airbus Group has awarded a multi-year contract to L&T Technology Services (LTTS). The engagement covers all Airbus divisions, subsidiaries and affiliates.LTTS has been a strategic supplier with Airbus global and its India subsidiary for more than a decade, providing engineering services across verticals like engineering, avionics and digital.
The IT solutions provider has scaled up operations across Airbus' key geographic locations including Toulouse (France), which is poised to become the main R&D Centre of Excellence (CoE), serving LTTS' wide aerospace customer portfolio, along with LTTS' strong talent pool of 17,000+ engineers operating out of India and leveraging conventional and digital expertise.
LTTS' offerings to the aerospace sector encompass a wide spectrum of services including aero structure & systems design, manufacturing engineering, avionics and software development, aero engine design, ATM solutions and airlines & MRO solutions engulfed by its digital solution portfolio which caters to all phases of the aircraft lifecycle.
Amit Chadha, CEO and managing director at L&T Technology Services said, "Airbus Group is our esteemed customer with whom we have had a decade-long relationship which is further strengthened by our selection as an EMES3 supplier. We are delighted to be selected and look forward to #EngineeringTheChange for Airbus and its ecosystem. The latest empanelment is a true reflection of LTTS being a focused technology organization with a strong engineering DNA stemming from the parent L&T group."
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LTTS is a listed subsidiary of Larsen & Toubro focused on Engineering and R&D (ER&D) services. It offers consultancy, design, development and testing services across the product and process development life cycle.
On a consolidated basis, LTTS reported 8.14% rise in net profit to Rs 249.60 crore on 4.96% increase in revenue from operations to Rs 1,687.50 crore in Q3 FY22 over Q2 FY22.
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