L&T Tech Q4 Results: Net profit rises 0.2% to ₹340 crore on slower revenue growth

The institution said it is readying to adhd 500 employees during the April-June period.

The engineering services company's nett net for FY24 grew 7.6 per cent to ₹1,303.7 crore.

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In the reporting quarter, its gross grew 7 per cent to ₹2,537.5 crore, portion it was astir 5 per cent higher erstwhile compared to the quarter-ago period.

LTTS Managing Director and Chief Executive Amit Chadha said the revenues successful the year-ago play were higher due to the fact that of the gains coming retired of the acquired company, Smart World.

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On the borderline front, helium guided towards a "slightly muted" fig successful the near-term arsenic it ramps up investments connected areas it considers captious for the future.

He said the institution has been reporting the operating nett borderline astatine 17-18 per cent successful the past, but the level whitethorn get compressed owed to investments.

For the 4th nether review, the operating nett borderline came astatine 16.9 per cent arsenic against 17.9 per cent successful the year-ago play and 17.2 per cent successful the quarter-ago period.

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The investments volition beryllium successful software-defined vehicles, hybridisation oregon electrical vehicles, artificial intelligence, cyber security, embedded systems and hyperscaler technologies, helium said.

Chadha, however, said determination are nary pressures connected the pricing beforehand being experienced by the company.

He besides announced a restructuring of the organisation, nether which it has narrowed down the fig of concern verticals to 3 from the earlier five.

These are mobility, sustainability and precocious tech, helium said, adding that enactment connected the aforesaid was connected for the past 3-6 weeks, and it besides involves immoderate changes successful the structure.

The institution added astir 800 employees to its rolls successful the past 1 twelvemonth to instrumentality the wide headcount to 23,812 people, and volition beryllium adding 500 radical connected a nett ground successful the archetypal 4th of the fiscal, Chadha said.

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It volition adhd a akin fig of radical successful the caller fiscal, helium said, adding that this volition see some freshers and lateral hires.

During the quarter, LTTS signed a USD 100 cardinal (about ₹800 crore), 1 USD 30 cardinal (about ₹250 crore) and 2 deals each of USD 20 cardinal (about ₹166 crore) and USD 10 cardinal (about ₹83 crore).

The LTTS scrip closed 0.97 per cent down astatine ₹5,180.95 apiece connected the BSE, arsenic against gains of 0.66 per cent connected the benchmark.

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Published: 25 Apr 2024, 08:53 PM IST