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
Carta Launches Unified Fund of Funds Solution to Automate LP Workflows and Portfolio Visibility24.3.2026 11:01:00 CET | Press release
New AI-powered offering closes the gap between investment data and investor reporting, bringing institutional-grade automation to complex Fund of Funds structures Carta, the world’s first fully interconnected system for private capital, today announced its solution for Fund of Funds, a new offering designed to help managers automate LP reporting, eliminate manual document processing, and gain clearer visibility into their underlying portfolio exposure. The product expands a critical link in Carta’s ERP for private capital, bringing LP investment data, fund accounting, and portfolio analytics onto a single platform, while more deeply connecting allocators with the GP ecosystem. Fund of Funds represents a critical and growing segment of the private capital ecosystem, projected to reach $450 billion by 2033 as investors seek diversified exposure to private markets. Yet, operating a fund of funds remains highly complex. Managers sit at a unique intersection of the ecosystem, investing as L
Meeting Rising AI Expectations and Removing Friction Key to Meeting Needs of B2B Buyers Across Europe24.3.2026 11:00:00 CET | Press release
8 in 10 buyers use AI in payments, but strategic integration remains uneven and caution abounds in France and GermanyPay by invoice, a core European expectation, a major growth lever in 2026, but payment preferences vary by country and company size According to a new European study1 of 550 business buyers commissioned by TreviPay, the global B2B payments invoicing and payments network, friction in the B2B buying process in the form of slow onboarding and inconsistent invoicing along with rising expectations for AI-enabled processes are where businesses are experiencing threats to loyalty beyond price. “Across Europe and the UK, finance teams are navigating economic pressure, regulatory complexity and rising buyer expectations,” said Inez Berkhof-Hollander, TreviPay’s Vice President of EMEA. “Our research shows payment and invoicing experiences now play a decisive role in supplier selection.” Top Three European Market Expectations in 2026 1. More AI-driven purchasing options vary by cou
OCTO and Volkswagen Group Info Services AG Form Partnership for Fleet Data Integration24.3.2026 10:00:00 CET | Press release
The partnership enables secure integration of vehicle data from six Volkswagen Group brands into OCTO’s platform, strengthening fleet data services across the European Union and supporting utilization, maintenance and geo-location use cases without additional hardware. OCTO, a leading company in the field of telematics, data analytics and AI-driven solutions for insurance and fleet management, announces a strategic partnership with Volkswagen Group Info Services AG. The goal of this cooperation is to expand data solutions for fleet operators by directly integrating vehicle data from the brands Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, Škoda, Seat, Cupra and Audi. Through this partnership, OCTO gains direct access to vehicle data from fleet vehicles of these six Volkswagen brands. This enables innovative mobility services for fleet managers, including maintenance management, theft protection, damage management, fraud detection, driving behavior analysis, activity report
Wolters Kluwer-undersøgelse: Danske SMV'er er førende i Europa inden for AI-drevet omkostningsbesparelser24.3.2026 10:00:00 CET | Pressemeddelelse
Høj reguleringsparathed og pragmatisk teknologiimplementering hjælper virksomheder med at skabe afkast, selvom finansieringsbegrænsningerne vokser Wolters Kluwer Tax & Accounting har i dag offentliggjort sin første rapport Future Ready Businessder viser, at danske små og mellemstore virksomheder (SMV'er) er de mest tilfredse i Europa med AI-drevet omkostningsbesparelser. Blandt SMV'er, der bruger AI, siger 65 %, at det har overgået forventningerne til omkostningsreduktion, hvilket er det stærkeste resultat på tværs af alle EU-markeder, langt foran lande som Tyskland og Spanien. Undersøgelsens resultater tegner et kontrastfyldt billede af markedet, hvor danske SMV'er kombinerer høj reguleringsparathed og en stærk præference for strategisk outsourcing med et stigende pres fra stigende omkostninger og begrænset adgang til kredit. "AI i Danmark implementeres med et klart forretningsmæssigt formål, ikke som en teknologisk trend," siger Martin Tage, Country Manager, Wolters Kluwer Tax & Acco
Mosaic Therapeutics to Present Poster Highlighting Preclinical Data for Lead Program MOS101 at the American Association for Cancer Research (AACR) Annual Meeting 202624.3.2026 09:30:00 CET | Press release
First preclinical data on the Company’s lead program MOS101: a combination of ASTX295, a next-generation, clinical-stage MDM2 antagonist, and olaparib, an FDA-approved PARP inhibitor, in biomarker-selected solid tumorsAdditional data showcasing Mosaic’s Discovery Platform, PRIME, will be presented Mosaic Therapeutics, Ltd, (‘Mosaic’, or ‘the Company’) a clinical-stage oncology therapeutics company building the category leader in Synergistic Precision Oncology, today announced it will hold a poster presentation at the American Association for Cancer Research (AACR) Annual Meeting 2026, taking place April 17-22 in San Diego, CA. Poster Presentation Details: Title: "Combination of the MDM2 antagonist ASTX295 and olaparib as a novel treatment option for BRCA2 mutant, TP53 wild-type solid tumors” Abstract Number: 3053 Date and Time: Monday, April 20, 2026, 2:00PM – 5:00PM PST Session Category: Novel Targets and Pathways Session: PO.ET09.09 Location: Poster Section 15 For more information an
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