L&T Tech Q3 Results: L&T Technology Services announced its October-December quarter results for fiscal 2024-25 (Q3FY25) on Wednesday, January 15, reporting a drop of four per cent to ₹322.4 crore in consolidated net profit, compared to ₹336.2 crore in the year ago period.
The Larsen & Toubro (L&T)'s tech subsidiary's revenue from operations in the third quarter of the current fiscal rose nine per cent to ₹2,653 crore, compared to 2,421.8 crore in the year-ago period. Shares of L&T Tech rallied five per cent ahead of the announcement of Q3 results to settle 3.10 per cent higher at ₹4,852.75 apiece on the BSE.
L&T Tech reported its largest-ever deal wins in the December quarter, with one worth $50 million, two worth $35 million, two worth $25 million, and three worth $10 million deals. EBIT for the quarter stood at ₹422 crore.
The quarter's EBITDA margin rose 110 basis points sequentially to 16.2 per cent, excluding one-time non-operational M&A expense. L&T Tech aims to improve EBIT margins on its organic book of business in the second half compared to H1. The tech company's dollar revenue stood at $312 million, growing 3.1 per cent quarter-on-quarter and 8.7 per cent year-on-year in constant currency.
"Our large deal TCV has seen a healthy increase with eight wins across segments. The large deal pipeline continues to be robust, aided by ongoing engagements with customers on both new age product and platform development and business transformation," said Amit Chadha, CEO and Managing Director of L&T Technology Services.
L&T Tech is targeting about 10 per cent of revenue growth in Constant Currency for the financial year 2025. "For FY25, our guidance is for nearly 10 per cent revenue growth in constant currency, including the contribution from Intelliswift. We reaffirm our medium-term outlook of $2 billion revenue with an EBIT margin of 17-18 per cent," added Chadha.
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