L&T Technology Services Ltd Q1FY21 consolidated PAT falls to Rs. 117.2 crore

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

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.1308.4 crores during the period ended June 30, 2020 as compared to Rs.1508 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.117.2 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.204.8 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.11.10 for the period ended June 30, 2020 as compared to Rs.19.40 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 1308.4 crs	₹ 1508 crs	-13.24%
Net Profit	₹ 117.2 crs	₹ 204.8 crs	-42.77%
EPS	₹ 11.10	₹ 19.40	-42.78%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.1308.4 crores during the period ended June 30, 2020 as compared to Rs.1404 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.117.2 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.203.9 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.11.10 for the period ended June 30, 2020 as compared to Rs.19.30 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 1308.4 crs	₹ 1404 crs	-6.81%
Net Profit	₹ 117.2 crs	₹ 203.9 crs	-42.52%
EPS	₹ 11.10	₹ 19.30	-42.49%

"With many industries operating at limited capacity on account of the pandemic, Q1 was a challenging quarter as expected. Still, we had a good performance in two of our segments - Telecom & Hitech and Medical, and our large deal engine continues to churn wins. Free cash flow generation was strong during the quarter and the healthy cash position sets us up well for the future. Looking ahead, we see a path for recovery backed by good order bookings and a healthy pipeline. We expect both revenue and operating margin to show sequential improvement over the remaining quarters of the current fiscal.

The acquisition of Orchestra will enhance our offerings in the areas of Network Engineering & Enterprise Mobility and provide us strategic access to Telecom service providers who are investing in next generation digital systems for 5G and IoT networks.

As customers redraw their business plans, we are working with them to improve operating efficiency, finetune sourcing and production plans, and prepare for faster go-to-market. Our newer set of offerings like Frugal Manufacturing, Telehealth solution and i-BEMS Shield are seeing good traction in the market. The large deal discussions we are having with customers are a notch higher in terms of criticality and adoption of new age technologies, which we believe will pave the way for greater mind share and competitive differentiation", said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.

During the quarter, LTTS won 9 multi-million dollar deals across all major industry segments which includes one deal with TCV of USD30mn plus and two deals with TCV of USD15mn plus. On a YoY basis, LTTS has increased its USD10mn+ clients by 5 and its USD1mn+ clients by 3.

Shares of L&T Technology Services Ltd was last trading in BSE at Rs.1455.2 as compared to the previous close of Rs. 1460.75. The total number of shares traded during the day was 16335 in over 2483 trades.

The stock hit an intraday high of Rs. 1515 and intraday low of 1427.4. The net turnover during the day was Rs. 24218166.

Source : Equity Bulls

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