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
Textron Aviation Broadens Aftermarket Connectivity Solutions for Cessna Citation Latitude by Offering Starlink High-Speed Internet18.9.2025 15:30:00 CEST | Press release
Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, today announced an additional high-speed internet connectivity solution for the Cessna Citation Latitude following the Federal Aviation Administration’s (FAA) issuance of AeroMech’s Supplemental Type Certificate (STC) for Starlink high-speed internet connectivity. AeroMech’s STC utilizes Starlink’s constellation of Low Earth Orbit (LEO) satellites to provide more reliable connectivity over land, water and remote areas, where traditional in-flight Wi-Fi may not have service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918380069/en/ Textron Aviation broadens aftermarket connectivity solutions for Cessna Citation Latitude by offering Starlink high-speed internet (Photo Credit: Textron Aviation) “With Starlink connectivity now available as an upgrade, Citation Latitude customers can enjoy a seamless, high-speed in-flight experience that keeps them connected in more
Lenovo Finds 65% of IT Leaders Admit Their Defenses Can’t Withstand AI Cybercrime18.9.2025 15:00:00 CEST | Press release
New Lenovo Research Shows How AI-Powered Defenses Help Enterprises Turn Cyber Risk into Cyber Resilience Lenovo research reveals a widening security gap as AI-driven cybercrime surges: 65% of IT leaders surveyed admit their defenses are outdated and unable to withstand AI-enabled attacks, and just 31% feel confident defending against them. The new insights are drawn from Lenovo’s third Work Reborn report, Reinforcing the Modern Workplace. While AI is driving business improvements and efficiency gains, it is also fueling a new wave of cybercrime that most businesses are ill-equipped to defend against. This underscores the critical need for enterprises to adopt AI-driven strategies that can counter threats that learn, adapt, and evolve in real time. Lenovo is positioned to deliver this shift with end-to-end solutions that embed AI security into the digital workplace. With operations in 180 markets and a leader in enterprise technology, Lenovo brings unmatched scale to solving AI workplac
Decode the Future of AI and Customer Experience at Elevate'25 Digital Innovation Summit18.9.2025 15:00:00 CEST | Press release
With keynotes from Google Cloud and an independent research firm, Elevate’25 will provide actionable strategies to harness the power of AI and create exceptional experiences for today's mobile-first consumer As unprecedented advancements in AI reshape consumer behavior, digital innovation summit Elevate'25 opened for general registration today. Sponsored by Airship, the exclusive, one-day event is designed to equip business leaders with proven strategies to harness artificial intelligence and mobile-first technology for a decisive competitive advantage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918928987/en/ Gain insight and advice from firms at the frontier of AI-powered, mobile-first customer experiences. Taking place on October 15, 2025, at the iconic Shangri-La at The Shard in London, Elevate'25 moves beyond the headlines to provide a practical roadmap for success, featuring insights from brand executives and ind
Armis Receives Morgan Stanley 2025 Innovation Award18.9.2025 15:00:00 CEST | Press release
Armis Centrix™ Platform, powered by Armis’ AI driven cyber security intelligence engine, manages over 6.5 billion assets daily making it the largest of its kind in the world Armis, the cyber exposure management & security company, today announced that it has received the prestigious Innovation Award from Morgan Stanley at the Firm’s 23rd Tech Week event in Silicon Valley. For over 20 years, Morgan Stanley has celebrated companies with innovative capabilities that have materially impacted its business. Armis is being recognized for its partnership with Morgan Stanley, which chose Armis to help protect and secure its critical internet-of-things (IoT) assets across its organization. “Continuous and cutting-edge innovation that enables global cybersecurity teams to combat malicious actors is essential in today’s environment. The attack surface is growing exponentially, and Armis’ mission is to protect organizations’ entire attack surface by managing cyber risk exposure in real time,” said
Scoring Big With Fans: Balchem Spotlights the Power of Vitamin K2 at FC Bayern Women’s Season Opener18.9.2025 14:33:00 CEST | Press release
Balchem, a leading global manufacturer of specialty ingredients for human nutrition and health – and official partner of FC Bayern (FCB) Women’s football team - has launched its first ever direct-to-consumer initiative, showcasing the power of vitamin K2 to FCB fans. The company promoted its K2VITAL™ brand with an exhibition stand at the Allianz Arena in Munich, during the opening game of the Bundesliga (German football league) on 6 September. This initiative is part of Balchem’s latest marketing strategy, which aims to raise consumer awareness of the health benefits vitamin K2 has to offer, bridging the gap between B2B and B2C markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250918950889/en/ Balchem Spotlights The Power of Vitamin K2 at FC Bayern Women’s Season Opener Co-Branded K2 Health Vitamins Hit the Pitch The opening event of the season provided a unique platform for Balchem to promote K2VITAL™, a patented, typ
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