Dollar sales were $326.3 million for the quarter, down 3.2% quarter-over-quarter and up 4.6% year-over-year. At constant exchange rates, sales fell 2.8% quarter-on-quarter and 3.9% year-on-year
EBIT for the quarter stood at Rs 427 crore in the December quarter, while EBIT margins stood at 14.6%.
The company said this was the fifth consecutive quarter in which it booked deals with a total contract value of more than $200 million. During the quarter, L&T Technology Services secured several major deals, including a $70 million contract from a global original equipment manufacturer, a $30 million deal, a $20 million program and five additional deals valued at more than $10 million each.
Management said the momentum in winning deals underlines the company’s positioning in areas such as AI-led tech services, digital transformation and sustainability-focused solutions. The sustainability segment continued to record double-digit growth year-on-year, while the mobility sector showed the first signs of recovery after a period of weakness.
“We have maintained the momentum in winning large deals, delivering an average TCV of $200 million for five consecutive quarters. The Sustainability segment continued to grow at double-digit rates on a year-on-year basis, while Mobility is seeing a turnaround,” said Amit Chadha, CEO and MD, L&T Tech. At the end of the third quarter, L&T Tech’s patent portfolio stood at 1,655, of which 1,007 were co-written with customers and the rest were filed by LTTS.
Chadha said L&T Tech is aligning its strategy with its Lakshya five-year plan, focusing on high-growth, high-margin areas. He noted that this approach is starting to be reflected in financial performance, with EBIT margin improving by 120 basis points quarter-on-quarter.
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