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Published: Apr 27, 2023
Updated: Apr 27, 2023

L&T Technology Services Reports Strong Q4 Performance and Declares Dividend

L&T Technology Services, an engineering firm, has announced its financial results for the fourth quarter of fiscal year 2023. The company has witnessed significant growth in net profit and revenue, along with declaring a dividend. Let's delve into the details of L&T Tech's Q4 performance and its accomplishments for the fiscal year.

Impressive Q4 Performance:

L&T Technology Services reported a net profit of ₹309.6 crore in Q4, marking a substantial 18% increase compared to the previous quarter. The company also experienced a notable growth in revenue, reaching ₹2096.2 crore, reflecting a 19% rise. The transportation segment, which accounts for 34.5% of the overall revenue, saw a remarkable surge of 23.9% during this period.

Strong FY23 Results:

For the fiscal year 2023, L&T Tech achieved an impressive growth of approximately 22% in both net profit and revenue. The company's revenue reached ₹8,014 crore, while the net profit for the year amounted to ₹1,170 crore.

Dividend Declaration:

L&T Technology Services has recommended a final dividend of ₹30 per share, as per the board's recommendation. This dividend distribution demonstrates the company's commitment to providing returns to its shareholders.

Notable Achievements and Partnerships:

L&T Tech highlighted its achievements during FY23, crossing a billion dollars in revenue run rate and achieving ₹1,000 crore in annual profits. The company also achieved its highest- ever EBIT margin of 18.5%, emphasizing its focus on building a robust and sustainable operating model. Over the past five years, L&T Tech has maintained an impressive 18% compound annual growth rate (CAGR) in profits.

In addition to its financial performance, L&T Tech secured three contracts worth over $10 million during the last quarter. Noteworthy partnerships include collaborating with French technology company Thales to develop private 5G networks for urban railways and becoming a strategic partner for aircraft manufacturer Airbus.

Share Allotment and Employee Stock Options:

L&T Technology Services provided details about the allotment of shares to grantees who exercised their vested stock options under the Employee Stock Option Scheme, 2016. The newly allotted shares will have the same ranking and value as the existing shares of the company.

LTTS delivered strong performance in Q4

L&T Technology Services has delivered a strong performance in Q4, with significant growth in net profit and revenue. The company's achievements in FY23, including reaching major revenue and profit milestones, highlight its consistent growth trajectory. With successful contracts and strategic partnerships, L&T Tech demonstrates its ability to secure valuable projects. Overall, L&T Technology Services' financial results and accomplishments position the company for continued success in the future.