L&T Technology Services (LTTS) reported a jump in profit of 35 per cent year-on-year (YoY) to Rs 262 cr for the quarter ended March 2022 (Q4 FY22).
The engineering and R&D services company had posted a profit of Rs 194.5 crore in the same period last year.
“We achieved several milestones in FY22 – a dollar revenue growth of 20 per cent in constant currency, record high operating margins, and more than three-fold increase in patents filed by our engineers”, said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.
It posted a revenue of Rs 1,756 crore, registering a growth of 22 per cent YoY in Q4 FY22, which was Rs 1,440 crore in the same period a year ago. Revenues from digital and leading-edge technologies stood at 57 per cent during the quarter.
The company also declared a final dividend of Rs 15 per share, subject to approval of the shareholders.
Speaking to DH post the earnings, Chadha provided a guidance of 13.5-15.5 per cent organic growth for the next financial year. “All in all, we had a very satisfying performance and knock on wood, as I go forward in the next year.”
LTTS also had the highest-ever quarterly and annual deals so far. The patents portfolio stood at 868, out of which 605 are co-authored with its customers and the rest are filed by LTTS.
The pure-play engineering services company has garnered a multi-year $100 million electric air mobility deal from US-based e-vehicle player Jaunt Air Mobility.
As part of the contract, LTTS will open an Engineering and R&D Centre in Québec province of Canada for the next-gen electric aircraft manufacturer to provide engineering services for the Jaunt Journey eVTOL (electric Vertical Takeoff and Landing) air taxi.
Results were announced post market hours with the shares ending at Rs 4,249.90 on the BSE, up Rs 65.20, or 1.56 per cent.