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
SBC Medical Appoints Sheng-FU Hsiao as CTOLeveraging Medical Big Data from 283 Global Locations and 6.63 Million Annual Patient Visits to Build a Scalable, AI-Driven Medical Management Infrastructure2.3.2026 13:00:00 CET | Press release
SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“SBC Medical” or the “Company”), a global provider of comprehensive consulting and management services to medical corporations and their clinics, today announced the appointment of Sheng-FU Hsiao as Chief Technology Officer (CTO), effective March 1, 2026. This appointment aligns with the Company’s 2026 management strategy, "Sophistication of Management Structure through AI and DX," and strengthens its leadership team to accelerate technological transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260302064873/en/ SBC Medical Appoints Sheng-FU Hsiao as CTO Leveraging Medical Big Data from 283 Global Locations and 6.63 Million Annual Patient Visits to Build a Scalable, AI-Driven Medical Management Infrastructure SBC Medical is transitioning from a traditional labor-intensive management model to an AI-driven infrastructure to address structural challenges in the m
SIMO Expands Carrier Enablement Strategy to Power Resilient, Multi-Network Enterprise Fixed Wireless Access Deployments2.3.2026 13:00:00 CET | Press release
xSIM orchestration delivers cross-network performance and unified global FWA deployment. SIMO, a leader in innovative mobile connectivity solutions, today announced the expansion of its carrier enablement strategy to power resilient, multi-network enterprise Fixed Wireless Access (FWA) deployments for both primary and backup applications. SIMO will showcase its evolution to a carrier enablement platform powering enterprise-grade FWA at Mobile World Congress 2026, in the MediaTek booth (Hall 3, Booth 3D10). “The future of enterprise FWA is not single-network, it is intelligently orchestrated multi-network connectivity,” said Eric Plam, chief revenue officer at SIMO. “By combining AI-driven local network selection with centralized global control, carriers can deliver resilient connectivity at scale while unlocking recurring managed service revenue.” Through SIMO xSIM orchestration operating at both the device firmware layer and the cloud, SIMO enables intelligent multi-network selection,
Venture Global Announces LNG Purchase Agreement with Trafigura2.3.2026 12:02:00 CET | Press release
New 5-year agreement offers flexibility and diversification to LNG portfolio Today, Venture Global, Inc. (NYSE: VG) and Trafigura announced the execution of a new, binding agreement for the purchase of approximately 0.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) from Venture Global for five years commencing in 2026. This mid-term agreement offers greater flexibility to customers in the global LNG market and provides greater diversification for Venture Global’s LNG portfolio. “Trafigura is a global leader in LNG trading, and we are pleased to execute this mid-term LNG supply agreement with them to provide the market with flexible and reliable U.S. LNG,” said Venture Global CEO Mike Sabel. “Global energy demand is stronger than ever, and this is an important step in executing our strategy of adding more mid-term agreements, which will diversify the tenor of our LNG portfolio. Venture Global looks forward to helping ensure the world remains well-supplied in the sh
“AI Realized Through Display” … Samsung Display Showcases AI-Optimized OLED Technologies at MWC262.3.2026 10:58:00 CET | Press release
Introducing “Flex Magic Pixel™,” a panel-integrated privacy technology enabled by low-power, high-brightness LEAD™… Essential smartphone privacy for the AI era’s surge in personalized data usage “Thinner and tougher”… Foldable OLED durability proven with a golf putting challenge “Create your own K-pop concert”… MR experience equipped with 5,000 PPI RGB OLEDoS draws major attention New concept “edge devices” incorporating Samsung Display OLED’s unique free-form, low-power and high-resolution technologies unveiled – including the companion robot concept “Mini PetBot” and the interior décor item “AI Toy House” Spain’s Park Güell tile mosaics recreated through displays using 6.8-inch OLED and 27-inch QD-OLED, highlighting high color reproduction and bezel-less technology Eric Kim, Executive Vice President and Head of Mobile Strategic Marketing: “In the AI era, displays will evolve from simple viewing screens into intelligent interfaces that understand and respond to users and their surroun
Medimaps Group and Radiobotics Announce Strategic Merger to Expand AI-Driven Musculoskeletal Imaging Portfolio2.3.2026 09:00:00 CET | Press release
Radiobotics to join Medimaps Group, creating a global provider of AI-driven musculoskeletal (MSK) medical imaging software The transaction is expected to close following receipt of Danish foreign direct investment (FDI) approval and other customary closing conditions Together, they will bridge the gap between preventative bone health and acute trauma diagnostics, offering an expanded portfolio across X-ray and DXA: Fracture detection, opportunistic bone fragility assessment, and fracture risk prediction The combined entity will have a commercial reach in 90 countries through a robust network of direct and partner channels Both organizations will maintain their established brands, supported by close R&D and commercial collaboration Medimaps Group S.A., a global leader in AI-driven bone microarchitecture imaging solutions, and Radiobotics ApS, a leader in AI-powered MSK radiology solutions, today announced that they have entered into a strategic merger agreement. Closing of the transacti
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