L&T-TECHNOLOGY-SERVICES
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2019.
Highlights for Q3FY20 include:
- USD Revenue at $199 million; growth of 7% YoY
- Revenue at Rs 14,230 million; growth of 8% YoY
- EBIT margin at 16.8%; up 30bps YoY
- Net profit at Rs 2,041 million; growth of 10% YoY
During the quarter, LTTS won 9 multi-million dollar deals across all major industry segments which includes 2 deals having TCV of USD30mn+ each. On a YoY basis, LTTS has increased its USD20mn+ clients by 2 and its USD10mn+ clients by 4.
“Q3 results were consistent with our expectations. We had a strong performance in three segments - Transportation, Plant Engineering, and Medical Devices that are each growing in excess of 20% on YoY basis. Digital & leading-edge technologies - the growth driver for ER&D, contributed to 41% of Q3 revenues and grew by 29% YoY.
We are seeing a new set of opportunities as customers seek disruptive technologies like AI, sensor fusion and industrial robotics to strengthen their market competitiveness. As part of our strategy to be the preferred ER&D partner to our customers, we continue to invest in building competencies and design centers that will take us closer to the customer. Last quarter we opened our 9th design center outside of India - an Aerospace & Defense Engineering Design Center in Rockford, Illinois (USA) that will cater to the development of high-performance engineering solutions for the global aerospace and defense industry”, said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
Industry Recognitions:
- Confederation of Indian Industry (CII) conferred LTTS with the CII Industrial Innovation Award, 2019 and recognized it as one of the most innovative Indian companies in the Services category in the ‘Large Enterprises’ segment.
- The Government of India bestowed upon LTTS the dual distinction for ‘High Growth in Women Employment ’ as well as ‘Highest Exporter-IT (Mysuru Region) ’. The Award was given by the Software Technology Parks of India (STPI), a Government body.
- LTTS was felicitated for its Robotic Endo-training Kit at the 8th Foundation Day of Global Innovation & Technology Alliance (GITA). Hon’ble Minister of Science & Technology, Health and Family Welfare and Earth Sciences Dr. Harsh Vardhan felicitated LTTS at the event.
Patents
At the end of the third quarter, the patents portfolio of L&T Technology Services stood at 472, out of which 352 are co-authored with its customers and the rest are filed by LTTS.
Human Resources
At the end of Q3FY20, LTTS’ employee strength stood at 16,787.
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,700 employees spread across 17 global design centers, 28 global sales offices and 50 innovation labs as of December 31, 2019.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200117005216/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Reply Awarded a 2025 AWS Partner of the Year Award3.12.2025 10:00:00 CET | Press release
Reply recognized as winner for EMEA Partner of the Year, Industry Energy & Utilities, one of many AWS Partners around the globe that help their customers drive innovation Reply [EXM, STAR: REY] is pleased to announce it is a recipient of a 2025 Geography and Global AWS Partner Award, recognizing leaders around the globe that are playing key roles in helping their customers drive innovation and build solutions on Amazon Web Services (AWS). Reply has been named the winner of the EMEA Partner of the Year – Industry Energy & Utilities award, which recognizes top AWS Partners with the AWS Energy Competency, which help customers build and implement advanced solutions powered by AWS across the industry value chain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251203089630/en/ Through its specialized companies — including Airwalk Reply, Comsysto Reply, Data Reply, Sense Reply, and Storm Reply — Reply leverages AWS capabilities to
FiRa Consortium Unveils FiRa Core 4.0 Specifications and Certification Program3.12.2025 10:00:00 CET | Press release
Featuring UL-TDoA, Aliro UWB updates, and expanded certification The FiRa® Consortium announces the release of its Core 4.0 Specifications and Certification Program, notable milestones in ultra-wideband (UWB) technology development. These updates complete the work of IEEE 802.15.4-2024 features to fulfill FiRa-defined use cases. They also enhance FiRa’s capabilities, enabling seamless interoperability and unlocking new possibilities for precise and secure ranging and positioning in diverse applications. Features of the FiRa Core 4.0 Specifications and Certification Program The FiRa Core 4.0 Specifications include updates that support expanded functionality and continued ecosystem growth. UL-TDoA – This feature enables the tracking of assets (UL-TDoA tags) by an infrastructure made of UL-TDoA anchors. The design ensures interoperability between the tags and the infrastructure, which optimizes tag simplicity and power consumption. The flexible design allows easy and customized deployment
Infobip Reports Record Black Friday Interactions as Retailers Accelerate Shift to Richer Customer Experiences3.12.2025 10:00:00 CET | Press release
Black Friday interactions grow by 15% year-on-year, marking a new milestone for Infobip’s global communications platform Infobip, the leading global cloud communications platform for customer engagement, identified a remarkable upswing in its Black Friday messaging traffic, with use of Rich Communication Services (RCS) surging 277% on Black Friday 2025 compared to the previous year. Email also remained a strong channel of choice among both retailers and consumers, showing an impressive 241% year-on-year increase, signaling that promotional and transactional communications continue to drive engagement during shopping peaks. Black Friday is no longer just a single day. The search for attractive deals extends beyond Friday, with consumers from around the globe seeking products, better price offers, and reliable, easy communication channels to connect with their favourite brands. Infobip identified significant increases in interactions not only in North America, but also in other key regio
Ramify Partners with ROYC to Enrich its Private Markets OfferUnder Its Own Brand3.12.2025 10:00:00 CET | Press release
ROYC, the market-leading European B2B platform for sourcing, structuring, and distributing private-market investments, and Ramify, the next-generation private wealth management platform based in France, today announced a strategic collaboration enabling Ramify to broaden its private-markets offering through a curated range of high-quality private-market funds and programs. The partnership enables Ramify to distribute, and scale modern private-markets programs under its own brand. Bringing a curated private-markets program suite to individual investors Through the collaboration, Ramify integrates a selection of highly sought-after, institutional-grade private-markets funds distributed through Luxembourg life-insurance wrappers. These funds can be invested into individually or as part of broader private-markets investment programs, including diversified and single-strategy vehicles across private equity, private credit, infrastructure and real assets - mirroring formats traditionally res
Veeam and HPE Extend Strategic Partnership and Unveil Next-Gen Data Protection to Supercharge Enterprise Resilience3.12.2025 09:10:00 CET | Press release
Strategic Alliance Accelerates Hybrid Cloud Innovation and Eliminates Risk Across Modern Applications Veeam® Software, the #1 global leader by market share in Data Resilience, today announced a bold new chapter in its strategic alliance with HPE. Building on the partnership’s momentum earlier this year, HPE and Veeam are unleashing transformative, integrated solutions designed to empower enterprises with radically simplified data resilience for the modern enterprise. “Trust, resilience, and availability are the new currency of business,” said John Jester, Chief Revenue Officer at Veeam. “Our strengthened partnership with HPE gives customers the agility and confidence to protect, recover, and leverage their data, wherever it resides.” New innovations unveiled by Veeam and HPE include: Protection for HPE Morpheus VM Essentials Software: Veeam’s new native integration plug-in – now in beta with expected general availability in early 2026 – delivers hypervisor-based image-level backup for
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom