Mumbai, January 21, 2017: L&T Technology Services Limited (LTTS) (BSE: 540115) (NSE: LTTS), announced its results for the quarter ended December 31, 2016. Its quarterly revenue rose almost 4 percent to Rs 8.1 billion rupees with a net profit of Rs 1.08 billion. Operating (EBITDA) margins at Rs 1.45 billion for the quarter was 18% of the revenue.
In terms of geographic share, North America contributed the topmost at 62.5 % followed by Europe at 19.2 % and Rest of the World contributing 10.2%. Contribution from the domestic market stood at 8.1%. In terms of industries, Transportation and Industrial Products accounted for over 60% of revenues.
During the quarter, LTTS secured multi-million USD contracts from its global customers across Transportation, Industrial Products, Process and Telecom verticals.
“We have a healthy pipeline of opportunities from our major customers in Industrial Products, Process and Transportation which also saw increased traction with existing Fortune 500 customers,” said Dr Keshab Panda Chief Executive Officer & Managing Director, L&T Technology Services Ltd.
Besides, the company is positioned well in terms of increasing the business prospect of its UBIQWeiseTM IoT solutions and i-BEMSTM – Intelligent Building Energy Management solutions platforms. The UBIQWeiseTM platform is being used by L&T’s Construction group in addition to our global customers and the Company has witnessed reasonable traction in marketing its i-BEMSTM platform across Europe and Asia.
During the third quarter, 2 patents co-authored with LTTS’ global customers got published, taking the total number of patents to 176. The company has also filed for three new trademarks during this period.
Engineering consultancy Zinnov rated LTTS in its “Leadership Zone” across 10 major verticals including two new ones- Semiconductors and Consumer Electronics.
About L&T Technology Services Ltd
L&T Technology Services Limited, a subsidiary of India’s largest construction and engineering conglomerate Larsen & Toubro, is a leading global pure-play engineering services company. L&T Technology Services serves over 50 Fortune 500 companies and 43 of the world’s top ER&D spenders and provides solutions in the areas of Mechanical Engineering Services, Embedded Systems & Applications, Engineering Process Services, Product Lifecycle Management, Engineering Analytics, Power Electronics, Machine-to Machine (M2M), and the Internet-of-Things (IoT). We operate across multiple verticals such as Automotive, Off-Highway, Telecom, Semiconductors, Consumer Electronics, Industrial Machinery, Energy & Utilities and Process Industries. Our cutting edge solutions such as Integrated Building Energy Management Solution – iBEMS™ and IoT platform UBIQWeise™ enable companies to derive optimum value from their engineering and manufacturing investments.
Headquartered in India, L&T Technology Services Limited has more than 10,000 employees, 12 global delivery centers in India and overseas and sales offices in India, North America Europe, the Middle East and Asia and 31 labs in India.
For additional information about L&T Technology Services log on to www.Ltts.com/