Mumbai, Maharashtra, India : L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the first quarter ended June 30, 2021.
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the first quarter ended June 30, 2021.
Highlights for Q1FY22 include:
During the quarter, LTTS won 6 deals with TCV of USD10 million plus, which includes 2 USD25 million plus deals. Revenues from digital and leading-edge technologies stood at 54% during the quarter.
“We started the new fiscal with a strong performance, despite the pandemic related challenges during the quarter. In Q1, we got our revenue back on the double-digit growth trajectory and marked four consecutive quarters of operating margin improvement.
The deal pipeline is healthy across segments, and we expect broad based growth to continue. Our innovation engine is matching the pace of our growth as we filed a record 23 patents in Q1.
To further scale and strengthen our technology and capability advantage, we have identified 6 strategic investment areas – Electric Autonomous & Connected Vehicle (EACV), 5G, Med-tech, Digital Manufacturing, AI&ML driven smart offerings and Sustainability. The focus will be on innovation and solution building in these new age areas that will position us as the partner of choice for customers in their next generation product development cycle,” said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.
Industry Recognitions:
Patents
At the end of the first quarter, the patents portfolio of L&T Technology Services stood at 719, out of which 531 are co-authored with its customers and the rest are filed by LTTS.
Human Resources
At the end of Q1FY22, LTTS’ employee strength stood at 16,972.
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,900 employees spread across 17 global design centers, 28 global sales offices and 69 innovation labs as of June 30, 2021.
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