L&T-TECHNOLOGY-SERVICES
17.1.2020 13:39:15 CET | Business Wire | Press release
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
Vedanta Aluminium’s Q2FY27: Profit doubles to INR 6,187 Cr, EBITDA rises 83% YoY31.10.2026 14:12:00 CET | Press release
Revenue at INR 22,066 crore, up 41% YoY2nd consecutive quarter with EBITDA exceeding INR 10,000 crore achievedHighest-ever quarterly aluminium production at 649 KT, up 5% YoY & 3% QoQNet debt reduced by INR 3,090 crore QoQ, with Net Debt/EBITDA improving to 0.7x Vedanta Aluminium Metal Limited (BSE: 544780 & NSE: VAML), India’s largest aluminium producer, announced its unaudited financial results for the quarter and half year ended 30 September 2026, delivering solid financial and operational performance. Revenue increased to INR 22,066 crore, up 41% YoY, supported by higher volumes and improved marketing mix. EBITDA stood at INR 10,192 crore, up 83% YoY, with an EBITDA margin of ~46%. Profit after tax stood at INR 6,187 crore, more than doubling YoY with an increase of 105%. VAML strengthened its balance sheet during the quarter, reducing net debt by INR 3,090 crore QoQ, with Net Debt/EBITDA improving to 0.7x from 0.9x in Q1FY27. The company’s credit profile was validated with India R
United States Signs Participation Contract for Expo 2030 Riyadh, Strengthening Momentum For Global Participation31.10.2026 09:38:00 CET | Press release
The United States of America has signed its Participation Contract for Expo 2030 Riyadh, marking a significant milestone in the World Expo’s preparations and further strengthening the momentum for international participation in the global event. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261031669001/en/ The Participation Contract was signed by His Highness Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, and U.S. Secretary of State Marco Rubio, during a bilateral meeting held on the sidelines of the 2026 G20 Foreign Ministers’ Meeting in Atlanta, Georgia. The signing marks an important step in the United States’ journey towards Expo 2030 Riyadh, paving the way for the development of its pavilion, programming and visitor experience. It also reinforces the growing international commitment to Expo 2030 Riyadh, as countries move from confirming their participation to actively sha
ADNEC Group Kickstarts November with Two of the World’s Largest Events in the Energy and Tourism Sectors31.10.2026 04:53:00 CET | Press release
ADNEC Group, a Modon company, begins November by hosting two of the world’s most significant international events in the same week. ADIPEC 2026, the world’s largest energy event, takes place at ADNEC Centre Abu Dhabi from 2 to 5 November. Meanwhile, World Travel Market (WTM) London, one of the global travel industry’s leading gatherings, takes place at the Group’s Excel London venue from 3 to 5 November. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261030918463/en/ ADNEC Centre Abu Dhabi (Photo: AETOSWire) The two events, held simultaneously at the Group’s largest venues in the UAE and the UK, reflect ADNEC Group’s capability to deliver large-scale international events across multiple markets. ADIPEC has grown alongside the venue since it was first held at the ADNEC Centre Abu Dhabi in 2006. This year’s edition is set to be the largest in the event’s history, occupying the venue’s entire 153,000 square metres of exhibition
SES and Air Astana Introduce Multi-orbit Inflight Connectivity on A321LR Fleet30.10.2026 18:35:00 CET | Press release
First aircraft is now delivering a new generation of onboard Wi-Fi experiences for business and leisure travelers SES was selected by Air Astana, the award-winning flag carrier of Kazakhstan, to introduce next-generation inflight connectivity services across its Airbus A321LR fleet. The first connected aircraft entered commercial service on 29 October 2026. Fleet-wide deployment will continue across the remaining A321LR fleet. Equipped with SES’s new electronically steered array (ESA) antenna, the aircraft delivers reliable connectivity over the SES multi-orbit network. SES will provide a fully managed inflight connectivity service across the fleet, enabling Air Astana passengers to enjoy a seamless online experience throughout their journey. “Airlines are increasingly looking for connectivity solutions that deliver a seamless passenger experience while providing the flexibility to evolve with changing customer expectations,” said Blane Boynton, Senior Vice President, Aviation at SES.
CIRCOR to Expand Industrial Portfolio with Acquisition of Green Silence Group S.p.A.30.10.2026 17:06:00 CET | Press release
Acquisition adds complementary pump, electric motor and control technologies to strengthen CIRCOR's industrial solutions portfolio CIRCOR, a KKR portfolio company and global manufacturer of flow control products for industrial and naval markets, today announced that it has signed a definitive agreement to acquire Green Silence Group S.p.A., an Italian provider of hydraulic pumps, electric motors and advanced engineering solutions. The acquisition will bring together the complementary capabilities of Settima, Motive and Spin expanding CIRCOR’s Industrial portfolio with three-screw and ultra-low-noise hydraulic pumps, Motive electric motors, high-efficiency rare-earth-free motor technologies, power electronics and advanced engineering capabilities. Together, these technologies will broaden CIRCOR’s ability to deliver integrated solutions that improve system efficiency, reduce energy consumption and critical raw materials dependency, and address evolving customer needs across industrial a
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