<p>Indian engineering and technology services firm L&T Technology Services reported a smaller-than-expected third-quarter revenue on Wednesday, on the back of softer spends from its automotive clients. </p><p>The Larsen and Toubro group firm raised its revenue growth for fiscal year 2025 to near 10% from 8%-10% earlier, on the back of acquiring U.S.-based software firm Intelliswift. Its revenue rose 9.6% year-on-year to 26.53 billion rupees ($307.14 million) for the quarter ended Dec. 31. </p>.Mallikarjun Kharge expresses disagreement with L&T Chairman's 90-hour work week suggestion.<p>Analysts had expected a revenue of 26.65 billion rupees, according to data compiled by LSEG. The company's mobility business unit posted a revenue growth of 4.1%, the slowest since the company started disclosing such numbers from the first quarter of this fiscal year. Net profit fell 4.1% to 3.22 billion rupees, lagging an estimate of 3.32 billion rupees. Profit declined on higher sales and administrative costs. Shares of the company closed 3.1% higher ahead of results. </p>.<p><strong>Key context</strong> </p><p>Engineering, research and design (ER&D) services, which include technology support to industries such as transportation and communications, contribute a sixth of the revenue to India's $254 billion technology sector. </p><p>Automakers have been facing issues of labour strikes in their factories across the globe while legacy players face the challenge of the shift to electric vehicles. Analysts said this would impact quarterly earnings for L&T Technology. Last week, peer Tata Elxsi's shares tumbled 7.6% as it missed revenue estimates.</p>
<p>Indian engineering and technology services firm L&T Technology Services reported a smaller-than-expected third-quarter revenue on Wednesday, on the back of softer spends from its automotive clients. </p><p>The Larsen and Toubro group firm raised its revenue growth for fiscal year 2025 to near 10% from 8%-10% earlier, on the back of acquiring U.S.-based software firm Intelliswift. Its revenue rose 9.6% year-on-year to 26.53 billion rupees ($307.14 million) for the quarter ended Dec. 31. </p>.Mallikarjun Kharge expresses disagreement with L&T Chairman's 90-hour work week suggestion.<p>Analysts had expected a revenue of 26.65 billion rupees, according to data compiled by LSEG. The company's mobility business unit posted a revenue growth of 4.1%, the slowest since the company started disclosing such numbers from the first quarter of this fiscal year. Net profit fell 4.1% to 3.22 billion rupees, lagging an estimate of 3.32 billion rupees. Profit declined on higher sales and administrative costs. Shares of the company closed 3.1% higher ahead of results. </p>.<p><strong>Key context</strong> </p><p>Engineering, research and design (ER&D) services, which include technology support to industries such as transportation and communications, contribute a sixth of the revenue to India's $254 billion technology sector. </p><p>Automakers have been facing issues of labour strikes in their factories across the globe while legacy players face the challenge of the shift to electric vehicles. Analysts said this would impact quarterly earnings for L&T Technology. Last week, peer Tata Elxsi's shares tumbled 7.6% as it missed revenue estimates.</p>