L&T Technology Services Shares Rally Nearly 7 Per Cent Post Q4 Earnings

Shares of L&T Technology Services (LTTS) on Thursday jumped nearly 7 per cent after the company reported an 18 per cent growth in its March quarter net profit. The stock climbed 6.84 per cent to Rs 3,684 on the BSE. At the NSE, it rallied 6.54 per cent to Rs 3,672.65. L&T Technology Services on Wednesday reported an 18 per cent growth in its March quarter net profit at Rs 309.6 crore.

The engineering services company's post tax net profit in FY23 rose 22 per cent to Rs 1,169.8 crore. For the reporting quarter, the company's revenues grew 19 per cent to Rs 2,096.2 crore while the operating profit margin was stable at 18.7 per cent. The company's managing director and chief executive Amit Chadha told PTI that it will be targeting a revenue growth of more than 20 per cent in FY24.The company added 1,400 people in FY23 to take its overall employee base to 22,233 at the end of the fiscal. It will be adding at least 2,000 people to its rolls in FY24, Chadha said.

(PTI)