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LTTS gains on being selected as engineering partner by Mavenir & NVIDIA

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L&T Technology Services (LTTS) rose 1.60% to Rs 5,455 after the company was selected as an engineering partner by Mavenir and NVIDIA, to accelerate adoption of the industry's first converged AI-on-5G.

L&T Technology Services (LTTS) will support Mavenir with customization, integration and deployment of AI applications for deployment on NVIDIA's AI-on-5G Platform. AI is already transforming many industries across the globe. When combined with the power of 5G networks, the two technologies will enable powerful new use cases in a quick, secure, and cost-effective manner.

NVIDIA's AI-on-5G platform is a unified platform that brings together developments at the edge to accelerate the digital transformation of enterprises across all industries. 5G provides the underlying connectivity for billions of devices, extending AI's reach to all connected objects and enabling new use cases and new markets. AI-on-5G is supported by a large ecosystem of partners offering a range of GPU-optimized applications and by NVIDIA SDKs, toolkits, and APIs.

L&T Technology Services (LTTS) reported 6.4% rise in consolidated net profit to Rs 230 crore on a 5.9% increase in revenue to Rs 1,607.70 crore in Q2 FY22 over Q1 FY22.

L&T Technology Services, a listed subsidiary of Larsen & Toubro (L&T), is an engineering services provider, focused on offering innovative design and development solutions across the product development value chain, for industries such as industrial products, transportation, aerospace, telecommunications (telecom) and the process industry. As on 30 September 2021, L&T held 74.15% shares of LTTS.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 17 2021. 10:22 IST