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Strong demand for digital engineering helps L&T Technology Services post industry-leading performance

ANI | Updated: May 22, 2018 18:24 IST

Mumbai (Maharashtra) [India], May 22 (BusinessWire India): L&T Technology Services Limited (LTTS), India's leading pure-play ER&D services company, announced its results for the fourth quarter and full year ended March 31, 2018.
Highlights for FY18 include:
-USD Revenue at USD 580 million for the year; growth of 20 percent YoY
-Revenue at Rs. 37,471 million for the quarter; growth of 15 percent YoY
-Net profit at Rs. 5,060 million; growth of 19 percent YoY
-Board has recommended a final dividend of Rs.12 per share. Including the interim dividend of Rs. 4 per share, the total dividend for FY18 will amount to Rs. 16 per share.
Highlights for fourth quarter include:
-USD Revenue at SD 162 million for the quarter; growth of 8percent QoQ; 34percent YoY
-Revenue at Rs.10,548 million for the quarter; growth of 9percent QoQ; 30percent YoY
-Net profit at Rs.1,588 million; growth of 26percent QoQ; 66percent YoY
During the fourth quarter, growth was broad-based with healthy traction across all segments on sequential basis. LTTS won five multi-million dollar deals across Process Industry, Telecom and Hi-tech and Transportation. On YoY basis, LTTS has increased its USD 40million annual billing clients by two, and its USD10 million clients by three.
"Our engineering DNA combined with strong demand for digital and new age technologies has helped us grow ahead of the industry with a 20percent revenue growth in FY18. The focus on Top 30 customers, large deal wins and technology innovation has enabled us to become India's fastest growing and leading pure-play engineering services company. We see large customers across the globe accelerating their investments in digital engineering and partnering with us to build smart products, create factories of the future embedded with new age technologies and increase returns from their legacy products," said Dr. Keshab Panda, CEO and Managing Director, L&T Technology Services Limited.
"Our revenues from digital and leading-edge technologies increased to 26percent of the overall business in FY18, driven by investment into newer areas such as NB-IoT, Machine Learning and Embedded AI and creation of new labs to spur research and innovation. We feel confident about growth momentum continuing in FY19 as we see broad-based demand and a strong positioning in all our five industry segments. To drive sustainable revenue and profit growth, we will continue to fill white spaces in both technology and domain through acquisitions and at the same time improve operational parameters for better margins," he added.
Awards and Recognitions:
Golden Peacock Innovation Award 2018 - LTTS was awarded the Golden Peacock Innovative Product & Service Award for its smart buildings product i-BEMS™ (Intelligent Building Energy Management System), making it the company's second consecutive win.
HfS Positions L&T Technology Services in 'Winner's Circle' for IoT services - LTTS was positioned in the 'Winner's Circle for Excellence in Innovation and Execution' by HfS Research, in its 'Blueprint Report for IoT Services, 2018'. HfS recognized LTTS for its strong manufacturing & engineering practice along with over 300 IoT engagements in Hi-tech, Telecom, Industrial and Energy & Utilities domains.
At the end of the fourth quarter, the patents portfolio of L&T Technology Services stood at 328 patents out of which 245 are co-authored with its customers and 83 are filed by LTTS.
At the end of the fourth quarter LTTS' employee strength stood at 12,307, a net addition of 366 during the quarter. (BusinessWire India)

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