L&T Technology Services Q1 results: Net profit rises 27% to Rs 274 cr

L&T Technology Services (LTTS) on Friday posted a 27 per cent increase in consolidated net profit at Rs 274 crore in the three months ended June.

The company had a net profit of Rs 216.2 crore in the same period a year ago.

''We started the new fiscal on a strong note with revenue growing sequentially by 4.7 per cent in constant currency.

''Growth was led by Plant Engineering and Industrial Products, benefitting from spends towards digital manufacturing, energy transition and smart connected products,'' LTTS CEO and Managing Director Amit Chadha said in a statement.

The company's consolidated revenue from operations grew 23.4 per cent to Rs 1,873.7 crore in the first quarter of the current fiscal. In the year-ago period, the same stood at Rs 1,518.4 crore.

''Our Aerospace and Rail segment is seeing a revival of large deal bookings with a USD 50 million deal in the first quarter on the back of a stellar long-term deal that we won in the prior quarter. ''... we see a broad-based pipeline of opportunities which gives us confidence of the growth momentum sustaining,'' Chadha said.