Ltts, Company

L&T Technology Services Limited, India's leading pure-play engineering services company, announced its results for the fourth quarter ended March 31, 2020.Highlights for FY20 include:* Revenue at Rs 56,191 million; growth of 11 per cent* USD Revenue at USD 786 million; constant currency growth of 9.3 per cent* EBIT margin at 16.5 per cent; up 50bps* Net profit at Rs 8,186 million; growth of 7 per cent* Board has recommended a final dividend of Rs 13.50 per shareHighlights for Q4FY20 include:* Revenue at Rs 14,466 million; growth of 8 per cent YoY* USD Revenue at USD 195.4 million; growth of 3.4 per cent YoY in constant currency* Net profit at Rs 2,048 million; growth of 7 per cent YoYDuring the quarter, LTTS won nine multi-million dollar deals across all major industry segments which includes one deal with TCV of USD 30 million plus. On a YoY basis, LTTS has increased its USD 20 million plus clients by 3 and its USD 10million plus clients by 5."We closed FY20 with 11 per cent revenue growth accomped by an improvement in operating margin despite multiple headwinds through the year - starting with Telecom & Hitech segment in Q1FY20 and ending with Covid-19 in Q4FY20. While Covid-19 is an ongoing challenge, we have continued to be the reliable and preferred partner to our customers while at the same time taking care of the health and safety of our employees. In response to the pandemic, LTTS has rolled out a suite of digital offerings, including i-BEMS Shield for safe workplaces and Frugal Manufacturing to help enterprises transfer or prioritize their manufacturing & production lines," said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited."The near-term outlook for the world economy appears uncertain as a result of the fallout from the global pandemic, however we see this crisis accelerating the trend of customers seeking credible partners who bring capability and speed-to-market. We believe this will lead to greater consolidation and enable us to expand engagement scopes once customers adjust and re-draw their business plans under a new normal," said Dr Keshab."The scale, track record and recognition that we have built over the past decade has been on the back of our investments in people, competency building and technology design labs which we are determined to continue so that we reach the milestones we have set for ourselves", added Dr Keshab Panda.Industry Recognitions:* IDC rated LTTS as 'Leader' in Worldwide Business and Industrial IoT Engineering and Managed Services 2020* LTTS was rated as an overall leader by Nelson Hall in Digital Manufacturing Services* Conferred with the US based Brandon Hall Award for Best Advance in Employee Rewards and RecognitionsPatentsAt the end of the fourth quarter, the patents portfolio of L&T Technology Services stood at 502, out of which 365 are co-authored with its customers and the rest are filed by LTTS.Human ResourcesAt the end of Q4FY20, LTTS' employee strength stood at 16,883, a net addition of 96 during the quarter.This story is provided by BusinessWire India. will not be responsible in any way for the content of this article. (/BusinessWire India)( With inputs from ANI )

LttsFOLLOW

Ltts, Latest News

TVS Motor Company registered sales of 322,683 units in March 2021 as against 144,739 units in March 2020. ...

Mokusei Intelligence has announced that it is actively seeking partners and collaborators, especially from the education and travel sector. ...

Lasa Supergenerics Limited, a vertically integrated group spanning the entire animal and human healthcare value chain has announced its financial results for the third quarter ended December 31, 2020 (Q3FY21). ...

TVS Motor Company registered a sales growth of 27 per cent in July 2020 with 252,744 units as against 198,387 units in June 2020. ...

Share India Securities Limited, one of India's leading hi- tech broking Company and financial service provider, announced strong financial results for the quarter and year ended March 31st 2020. ...

TVS Motor Company registered sales of 198,387 units in June 2020 as against 297,102 units registered in the month of June 2019. ...

The Annual General Meeting (AGM) of Reliance Industries Limited will be held on Wednesday through video conferencing. ...

L&T Technology Services Limited, India's leading pure-play engineering services company, announced its results for the fourth quarter ended March 31, 2020. ...