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
OCTO Revolutionizes Vehicle Safety with AI: Introducing the Proactive and Predictive Anti-Theft System10.12.2025 10:00:00 CET | Press release
Anticipating a theft before it happens. This is the goal of OCTO’s new predictive anti-theft system, developed by the global leader in telematics and data analytics solutions for connected mobility. The new technology combines artificial intelligence, machine learning, and advanced sensors to deliver real-time, personalized vehicle protection capable of recognizing risk signals before a theft event occurs. Drawing on more than 22 years of experience and 610 billion kilometers of driving data, the system transforms the paradigm of vehicle security from reactive to proactive. This approach enables prevention rather than mere response, increasing protection for both private vehicles and corporate fleets. The main features include: Tampering detection: sensors identify attempts to access or remove the devices. Abnormal vehicle movement: the system detects vehicle dragging or lifting while the engine is off. Loss of connection between the devices installed on the vehicle: when one of the tw
Tecnotree Emerges as CX Catalyst Winner for Impact at The Fast Mode Awards 202510.12.2025 09:55:00 CET | Press release
Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, has won the CX Catalyst award for Impact at The Fast Mode Awards 2025. The awards, hosted by leading independent media, research, and analysis platform The Fast Mode, recognises industry visionaries and transformative innovations redefining the global telecoms space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251210927009/en/ Tecnotree Emerges as CX Catalyst Winner for Impact at The Fast Mode Awards 2025 Tecnotree’s award‑winning CX platform delivers omnichannel engagement for operators across voice, SMS, social media, chat, web, and in-app channels. The solution uses AI- and ML-driven analytics to identify customer behaviour, preferences and lifecycle stages — enabling proactive engagement and churn prevention. Real-time personalization and decisioning ensure context-aware interactions, while campaign orchestration unifie
Tyk Marks 10 Years in Business by Proving British Tech Can Grow Responsibly10.12.2025 09:30:00 CET | Press release
Tyk, the independent UK software company powering millions of digital transactions worldwide, is marking its tenth anniversary with B Corp certification - a milestone that recognises a decade of growth built on purpose, not hype. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209886821/en/ Tyk Founders, Martin Buhr (Left), James Hirst (Right) Founded in London in 2014 by Martin Buhr, Tyk began as a one-man side project and has grown into a company of 150 people in 30 countries. Its API management platform now underpins the digital infrastructure of banks, retailers and telcos across more than 100 markets including NatWest, SoundCloud, Zeiss, T-Mobile and Dollar General, powering over 100 million people’s financial transactions daily. From its inception, Tyk has challenged the conventions of the tech industry. It built a profitable business without offices or a “growth at all costs” mentality, long before remote-first work
Sainte Catherine, Institut du Cancer Avignon-Provence (ICAP), Becomes the First Center in Europe to Implement the Varian Latest Halcyon Advancements with Identify integration, PerfectKinetix Dynamic Couch and HyperSight for Personalized Radiotherapy10.12.2025 09:00:00 CET | Press release
Institut du Cancer Avignon-Provence (ICAP), and Varian, a Siemens Healthineers company, announced today the first European installation of the Halcyon version 5.0 radiotherapy platform, combined with IDENTIFY real-time motion management, and the PerfectKinetix Dynamic Couch. This milestone marks a significant step forward in delivering more precise, efficient, and personalized radiotherapy, while enhancing the overall patient experience. The latest evolution of Varian’s Halcyon platform brings together enhanced patient positioning, real-time motion management with IDENTIFY, and embedded high-quality HyperSight imaging. ICAP’s adoption of this ecosystem reflects its commitment to offering patients in the region access to the latest innovations in radiation oncology. Advancing Personalized Care The combination of Halcyon 5.0 and IDENTIFY 5.0 enables clinicians to deliver treatment more effectively by supporting individualized care plans. IDENTIFY* integration is designed to improve posit
L&T Technology Services, PALFINGER Inaugurate GDC as Part of Multi-Year Engagement to Accelerate Product Development10.12.2025 08:30:00 CET | Press release
The GDC, established in LTTS’ Mobility segment, will strengthen PALFINGER’s localization roadmap and next-gen digital transformation initiatives L&T Technology Services (BSE: 540115, NSE: LTTS), a global leader in AI, Digital & ER&D Consulting Services, today announced the inauguration of a state-of-the-art Global Development Center - APAC as part of a multi-year engagement with PALFINGER, an Austria-headquartered global pioneer in innovative crane and lifting solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209416315/en/ From PALFINGER, the ceremony was attended by Alexander Susanek (COO), Andreas Hille (Senior Vice President, Product Line Management and Engineering), Santhosh Rao (Senior Vice President Regional Sales & Service, Asia Pacific) and Arun C Bhongale (General Manager, SCM and Procurement). From LTTS, Mritunjay Singh (COO), Dr. Oliver Moron (Vice President, EU-DACH), Mohideen Farouk (Sales Director, E
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