L&T Technology Services (LTTS) has reported financial results for the first quarter of fiscal year 2025 (Q1FY25), which saw a 7 per cent increase in revenue, which reached Rs 2,462 crore. The company also saw a flat uptick in net profit, which rose by 1 per cent year-over-year (YoY) to Rs 314 crore, with an EBIT margin of 15.6 per cent.
During the quarter, LTTS secured several significant deals, including two contracts worth USD 30 million each, two worth USD 15 million each and three deals with a total contract value of USD 10 million.
LTTS CEO and Managing Director Amit Chadha spoke on the company’s progress with its “Go Deeper to Scale” strategy and the reorganisation of its structure into three main segments. The Mobility segment, driven by LTTS’s expertise in electric vehicles, software-defined vehicles and connected car technology, experienced a 6 per cent sequential growth, resulting in several high-value deal wins.
Chadha also noted the promising developments in the Hi-Tech and Sustainability segments, where the new strategy has significantly increased the deal pipeline and discussions for large contracts. The company has accelerated its investments in artificial intelligence, with 61 patents filed so far, and has begun securing AI-led deals, particularly in generative AI solutions for asset health, software development, and digital assistants.
With the completion of the first phase of reorganisation and investments in technology and leadership, Chadha expressed confidence in LTTS’s performance for the remainder of the year.
“With phase one of our reorganisation and related investments in technology and leadership complete, we are reassured of our performance for the rest of the year and reaffirm our aspirations to reach USD 1.5 billion in annualised revenues,” Chadha said.
The company’s employee strength stood at 23,577 by the end of the quarter.
