L&T Tech Services posted a net profit of Rs 315.4 crore in Q2FY24, up marginally by 1.4% on a sequential basis over the previous quarter’s 311.1 crore. L&T Tech Services’ revenue rose 3.7% quarter-on-quarter to Rs 2,386.5 crore against the June quarter’s Rs 2,301.4 crore.
The Larsen & Toubro group firm revised its revenue growth guidance to 17.5-18.5% in constant currency terms compared to a previous estimate of 20% for FY24. The dollar revenue was up 2.9% at $288.1 million sequentially compared to $280 million in the previous quarter.
On the deals front, LTTS has won seven deals of over $10 million out of which six were more than $15 million deals.
Speaking on LTTS quarterly results, Amit Chadha, CEO and Managing Director, said, “While longer-term trends for ER&D remain strong, in the short term we are seeing longer decision cycles and incremental headwinds from the macro-economic stress in various geographies. We revise our USD revenue growth guidance for FY24 to 17.5%-18.5% in constant currency.”
L&T Tech Services dividend
L&T Technology Services Ltd (LTTS) on Tuesday, October 17, declared an interim dividend of Rs 17 per equity share. The record date for the same has been fixed as October 27.
“The Board of Directors have also declared an Interim Dividend of Rs. 17/- per equity share. The Interim Dividend shall be paid to equity shareholders of the Company whose names will appear in the Register of Members or in the records of the Depositories as Beneficial Owners of Equity shares as on Friday, October 27, 2023, which is the Record Date fixed for the aforesaid purpose,” the company said in an exchange filing.
L&T Technology Services share price settled at Rs 4,623 apiece on BSE, down 1.41 percent.
First Published: Oct 17, 2023 4:23 PM IST
