L&T Technology Services (LTTS) has announced its financial results for the third quarter of FY25, with strong growth in revenue and large deal wins. For the quarter ending December 31, 2024, the company reported a revenue of ₹26,530 million, showing a 3.1% growth quarter-over-quarter (QoQ) and 9.5% year-over-year (YoY).
USD revenue stood at $312 million, marking a 3.1% QoQ and 8.7% YoY growth in constant currency. The company’s EBIT margin reached 16.2%, up 110 basis points from the previous quarter, excluding one-time non-operational M&A expenses. Net profit for the quarter was ₹3,224 million, reflecting a 0.9% QoQ growth.
LTTS achieved significant success in securing large deals during the quarter, with a total of 8 major contracts, including a USD 50 million deal, two worth USD 35 million each, two valued at USD 25 million each, and three at USD 10 million each. The company’s strong performance in the Tech and Sustainability sectors led the growth, particularly in Medtech, Hyperscalers, and Communication sectors.
The sustainability segment saw a 4% sequential growth, driven by modernization and automation demand. The company’s large deal pipeline remains robust, with ongoing engagements in next-gen product and platform development, as well as business transformation initiatives.
The quarter also marked key strategic developments, including the completion of the Intelliswift acquisition, which led to the formation of a new sub-segment called Software & Platforms. This move aims to enhance LTTS’ capabilities in Hyperscalers and tap into promising markets like Retail, Fintech, and Healthcare.
Additionally, the inauguration of the NVIDIA AI Experience Zone at LTTS’ Bengaluru design hub has boosted its AI expertise. The company’s commitment to innovation is further underscored by its filing of 174 patents in AI/Gen AI applications. LTTS has been recognized by several industry bodies, including being named one of the Top 25 Companies Excelling in Women in STEM by CII, and honored for its achievements in digital engineering, AR/VR, and predictive analytics.
L&T Technology Services (LTTS) is a global frontrunner in engineering and technology solutions. As a publicly listed subsidiary of Larsen & Toubro (L&T), we specialize in design, development, testing, and support services for a wide range of products and processes. Our approach is centered on being Purposeful, Agile, and Innovative, driving progress across key sectors such as Mobility, Sustainability, and Technology.
Serving 69 Fortune 500 companies and 57 leading ER&D firms, LTTS plays a pivotal role in industries like industrial products, medical devices, transportation, telecom & hi-tech, and process industries. With our headquarters in India, we employ over 23,460 professionals across 22 global design centers, 30 sales offices, and 108 innovation labs worldwide, as of December 31, 2024.
