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L&T Technology Services Ltd posts Q2FY21 consolidated PAT of Rs. 165.5 crore

Posted On: 2020-10-19 08:41:16


L&T Technology Services Ltd has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1370.4 crores during the period ended September 30, 2020 as compared to Rs.1308.4 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.165.5 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.117.2 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.15.69 for the period ended September 30, 2020 as compared to Rs.11.10 for the period ended June 30, 2020.

FinancialsQ2 FY20-21Q1 FY20-21% Change
Total Income₹ 1370.4 crs₹ 1308.4 crsUp Tick 4.74%
Net Profit₹ 165.5 crs₹ 117.2 crsUp Tick 41.21%
EPS₹ 15.69₹ 11.10Up Tick 41.35%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.1370.4 crores during the period ended September 30, 2020 as compared to Rs.1449 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.165.5 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.205.8 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.15.69 for the period ended September 30, 2020 as compared to Rs.19.49 for the period ended September 30, 2019.

FinancialsQ2 FY20-21Q2 FY19-20% Change
Total Income₹ 1370.4 crs₹ 1449 crsDown Tick -5.42%
Net Profit₹ 165.5 crs₹ 205.8 crsDown Tick -19.58%
EPS₹ 15.69₹ 19.49Down Tick -19.5%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.2678.8 crores during the 6 months period ended September 30, 2020 as compared to Rs.2853 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.282.7 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.409.7 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.26.83 for the 6 months period ended September 30, 2020 as compared to Rs.38.79 for the 6 months period ended September 30, 2019.

FinancialsHalf-Year Ended FY20-21Half-Year Ended FY19-20% Change
Total Income₹ 2678.8 crs₹ 2853 crsDown Tick -6.11%
Net Profit₹ 282.7 crs₹ 409.7 crsDown Tick -31%
EPS₹ 26.83₹38.79Down Tick -30.83%

During the quarter, LTTS won 8 multi-million dollar deals across all industry segments including 3 deals with TCV of USD15mn plus and another 3 deals with TCV of USD10mn plus. Revenues from digital and leading-edge technologies stood at 49% during the quarter.

"We had a strong quarter with broad based revenue growth and an improvement in operating margin performance, in line with what we had guided. Steady order bookings and a healthy pipeline across all segments gives us confidence that the growth momentum will continue.

Customers are accelerating the deployment of digital engineering projects to enable business continuity and drive scale. LTTS with its highly differentiated skillsets in Plant Engineering is thus rightly positioned to provide solutions around virtualization, 3D Modelling and digital twin, that allows it to partner with customers on transformational programs.

Our efforts to build a Platforms and Solutions practice has started to see better traction in the marketplace with customers demanding solutions that provide enhanced safety and remote productivity in the context of the pandemic. LTTS' solutions such as i-BEMS™ Shield - a smart campus framework, and AVERTLE™ - a predictive maintenance solution for touchless plant operations, have seen multiple wins in Q2 and the pipeline looks exciting.

We continue to invest in design labs; in Q2, we opened a state-of-the-art EV lab to work on technologies that will improve the performance and endurance of electric vehicles. Our EV practice is seeing good traction across top Auto OEMs and suppliers", said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.

Shares of L&T Technology Services Ltd was last trading in BSE at Rs.1750.55 as compared to the previous close of Rs. 1728.8. The total number of shares traded during the day was 13622 in over 1871 trades.

The stock hit an intraday high of Rs. 1779.8 and intraday low of 1693.95. The net turnover during the day was Rs. 23602849.


Source: Equity Bulls

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