L&T Technology Services Ltd Q3FY21 consolidated net profit up QoQ to Rs. 186.1 crore

L&T Technology Services Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1449.5 crores during the period ended December 31, 2020 as compared to Rs.1370.4 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.186.1 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.165.5 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.17.63 for the period ended December 31, 2020 as compared to Rs.15.69 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 1449.5 crs	₹ 1370.4 crs	5.77%
Net Profit	₹ 186.1 crs	₹ 165.5 crs	12.45%
EPS	₹ 17.63	₹ 15.69	12.36%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.1449.5 crores during the period ended December 31, 2020 as compared to Rs.1467.2 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.186.1 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.204.1 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.17.63 for the period ended December 31, 2020 as compared to Rs.19.34 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 1449.5 crs	₹ 1467.2 crs	-1.21%
Net Profit	₹ 186.1 crs	₹ 204.1 crs	-8.82%
EPS	₹ 17.63	₹ 19.34	-8.84%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.4128.3 crores during the 9 months period ended December 31, 2020 as compared to Rs.4320.2 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.468.8 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.613.8 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.44.48 for the 9 months period ended December 31, 2020 as compared to Rs.58.23 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 4128.3 crs	₹ 4320.2 crs	-4.44%
Net Profit	₹ 468.8 crs	₹ 613.8 crs	-23.62%
EPS	₹ 44.48	₹58.23	-23.61%

During the quarter, LTTS won 7 deals with TCV of USD10 million plus, which includes a USD100 million plus deal and 2 USD15 million plus deals. Revenues from digital and leadingedge technologies stood at 49% during the quarter.

"We had a strong performance with sequential improvement in both revenue and operating margin. All five of our industry segments grew sequentially, with three segments recording growth of 5% plus. Deal wins were especially strong in the quarter helped by a marquee USD100M plus engagement with an O&G major - a validation of our best-in-class domain expertise and deep customer relationships.

The deal pipeline is healthy across segments as customers prioritize business transformation to improve efficiency and productivity. We are leveraging newer technologies like Digital Thread, IoT and AI to further our positioning as innovation partners to our customers. I would like to highlight that the strong uptick in Industrial Products has been led by deals involving digital led transformational programs", 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.2662.55 as compared to the previous close of Rs. 2577.6. The total number of shares traded during the day was 34256 in over 4223 trades.

The stock hit an intraday high of Rs. 2684 and intraday low of 2580. The net turnover during the day was Rs. 90725055.

Source : Equity Bulls

Keywords