L&T Technology Services reports 23% growth in Q1FY23

L&T Technology Services Limited, India’s leading pure-play engineering services company, announced its results for the first quarter ended June 30, 2022.

Highlights for Q1FY23 include:

in Rs(crores)Q1FY2022Q4FY2022Q1FY2023YoYQoQ
Revenue1,2071,1831,051-12.92%-11.16%
EBITDA191154130-31.94%-15.58%
EBITDA Margin15.82%13.02%12.37%-345Bps-65Bps
PAT916853-41.76%-22.06%
PAT Margin7.54%5.755.04%-250Bps-71Bps
EPS (INR)0.680.470.37
  • Revenue at ₹18,737 million; growth of 23% YoY
  • USD Revenue at $239.5 million; growth of 20% YoY in constant currency
  • EBIT margin at 18.3%; up 100 bps YoY
  • Net profit at ₹2,742 million; growth of 27% YoY

During the quarter, LTTS won a USD 50 million plus deal, four USD 15 million deals and two deals with TCV of USD 10 million.