Mumbai (Maharashtra) [India], January 19 (ANI/BusinessWire India): LT Technology Services Limited (BSE: 540115, NSE: LTTS), India's leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2021.
Highlights for Q3FY22 include:Revenue at Rs 16,875 million; growth of 20% YoYUSD Revenue at $225.1 million; growth of 18% YoYEBIT margin at 18.6%; up 340 bps YoYNet profit at Rs 2,488 million; growth of 34% YoYInterim Dividend of Rs 10 per share; Record date January 27, 2022During the quarter, LTTS won a USD45 million deal and a total of 3 deals with TCV of USD10 million plus. Revenues from digital and leading-edge technologies stood at 56% during the quarter.
"We sustained our performance trajectory with sequential growth of 4.2% in constant currency led by strong demand across segments. The deal conversations and pipeline in our six big bets - Electric AutonomousConnected Vehicle (EACV), 5G, Med-tech, AIDigital Products, Digital Manufacturing and Sustainability - continues to see healthy improvement as our customers make steady progress on their long-term transformative journeys.
We are expanding our EACV global presence with the addition of an engineering RD center in Krakow, Poland that will strengthen our strategic partnership with European and Global clients.
In line with our long-term growth prospects and strategy, we invested in hiring and onboarding a record 1,900 plus trainees leveraging our Global Engineering Academy that is focused on continuous training and upskilling. Despite the robust employee addition, we further improved our Operating margin to 18.6%, reflecting gains from investments in talent and innovation," said Amit Chadha, CEOManaging Director, LT Technology Services Limited.
Industry Recognitions:Confederation of Indian Industry (CII) awarded LTTS with the prestigious Top 25 Innovative Company Award at the 2021 Industrial Innovation AwardZinnov rated LTTS as a 'global ERD Leader' and Leader across its core verticals Automotive, Aerospace, Medical Devices, Industrial, Semicon and TelecomZinnov Zones ERD Services Report rated LTTS as a 'Leader' in Digital Engineering, AI Engineering, Telematics, ADAS, Digital Thread, TeleHealth and OTTLTTS has been recognized as a 'Leader' in Digital Engineering in ISG's Manufacturing Industry Services 2021 Study in the Transportation, Hi-Tech and Industrial segmentsISG's Life Science Digital Services Study has recognized LTTS as a 'Leader' in EuropeUSA in the MedTech and Digital Transformation Services areasLTTS' Chest-rAITM solution recognized in Innovation in Overall Customer Experience category by ASSOCHAM 2nd Innovators' Excellence Awards 2021Business Leadership Awards 2021 honored LTTS in the Innovation Excellence and Connected Car Platform of the Year categoriesPatentsAt the end of Q3FY22, the patents portfolio of LT Technology Services stood at 816, out of which 578 are co-authored with its customers and the rest are filed by LTTS.
Human ResourcesAt the end of Q3FY22, LTTS' employee strength stood at 20,118.
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