L&T Technology Services (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2018.
Highlights for Q3FY19 include:
During the quarter, LTTS won 8 multi-million dollar deals across all industry segments. On a YoY basis, LTTS has increased its USD50mn+ clients by 2, USD10mn+ clients by 4 and its USD5mn+ clients by 10.
“We have sustained the double-digit growth trajectory across all industry segments by building on our excellent positioning in digital & leading-edge technologies which has now risen to 34% of revenues. The strong growth achieved in the current year-to-date gives us confidence of exiting FY19 with industry leading growth once again. On the operational front, our execution engine has been firmly focused on improving profitability along with growth. Our EBITDA margin has inched up consecutively for four quarters to 18.4% in Q3, which is an improvement of over 300bps on YoY basis.
We continue to invest in building new capabilities and creating new labs to aid innovation. In Q3 we started a design lab for 5G where our engineers are working on new challenges and concepts. The platforms and proprietary solutions that we are developing in areas like Smart Campus, Autonomous Vehicles, NB-IoT, Digital Factory and Robotic Automation is helping LTTS to be at the forefront of the ER&D Services industry that is participating in transformational technology,” said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
At the end of Q3FY19, LTTS’ employee strength stood at 14,777, a net addition of 1,192 during the quarter.