Mumbai, Oct 16 (IANS) IT major L&T Technology Services Ltd reported a net profit of Rs 320 crore in the July-September quarter of FY 2024-25 on Wednesday, up 2 per cent in comparison to Rs 314 crore in the previous quarter.
According to the exchange filing by L&T Technology Services (LTTS), revenue during the second quarter of the financial year (FY) 2024-25 rose 4.5 per cent to Rs 2,573 crore from Rs 2,462 crore in the April-July quarter of this fiscal.
The company reported USD revenue at $307 million up 6.5 per cent YoY. The earnings before interest and taxes rose 1 per cent to Rs 388 crore, whereas the EBITDA margin contracted to 15.1 per cent.
L&T Technology Services Ltd CEO & Managing Director Amit Chadha said: "With our pipeline comprising larger-sized deals involving consolidation as well as advanced technology-led transformation, we are confident about the vision we set for ourselves and our medium-term outlook of $2 billion revenue with EBIT margin of 17-18 per cent."
"We are seeing an uptick in artificial intelligence (AI) led deal conversations, and our portfolio of AI solutions & accelerators is helping win deals in our focus areas across segments. The company has filed a total of 165 patents in AI till date," he added.
At the end of Q2FY25, the patents portfolio of L&T Technology Services stood at 1,394, out of which 877 are co-authored with its customers and 517 are filed by LTTS. LTTS’ employee strength stood at 23,698 in the quarter ended September 30.
L&T Technology Services announced an interim dividend of Rs 17 per equity share. The company announced a distribution of Rs 179.9 crore to shareholders in the second quarter of this fiscal. The board has fixed October 25 as the record date for dividend payment. Shares of LTTS closed 0.72 per cent higher at Rs 5,356.9 apiece on the NSE, compared to a 0.34 per cent decline in the benchmark Nifty 50.
--IANS
avs/vd
You may also like
Bomb threats impact 7 flights on Wed; govt says agencies pursuing all cases actively
FSSAI Food Safety Guidelines While Buying Food Products, 6 Tips Identify Purity Of Kitchen Staple
Special features available in Vivo X200 series
Why does the human body freeze due to fear?
Pep Guardiola ready to return to day-to-day job after England admission and Man City exit
Andy Murray wins first trophy after swapping tennis for another sport in retirement
Happy Valmiki Jayanti 2024: Inspirational Quotes by Ramayana Author Maharshi Valmiki Everyone Should Follow
Newcastle face nightmare disciplinary scenario ahead of Chelsea Premier League fixture
Roy Keane has already given six-word verdict on Thomas Tuchel after England appointment
Communication matters: NCDRC reverses state consumer commission's order, ask Haryana govt to grant plot to retired constable
Maharashtra polls: Cong's screening committee clears names on 62 seats, CEC to take place on Oct 20
Iwan Thomas says seeing his son in intensive care left him 'dying inside'
Pune gang rape case: Second accused remanded to police custody till Oct 22
Shah Rukh Khan Reveals Failing At Comedy, Calls It 'Very Difficult': Did Chennai Express And It Was A Big...
Mumbai: 3 Dead As Massive Fire Erupts In Lokhandwala's 14-Storey Residential Building; Elderly Couple & House Help Victims Of Deadly Blaze
Kajol Shares Throwback Pics As She Celebrates 26 Years Of Kuch Kuch Hota Hai: Still Feeling The Same...
'Trump had no sense of who he was talking to; he slammed Jews in front of pro-Israel backers'
Canadian MP Sean Casey Calls For PM Trudeau's Resignation As Liberal Leader Amid Diplomatic Row With India; Watch Video
BJD organises blood donation camps across Odisha on occasion of Naveen Patnaik's 79th birthday
Look: 3 Sharjah sites now on Islamic World Heritage List