Q1FY18 Results: L&T Technology Services Ltd
DSIJ Intelligence / 25 Jul 2017
The company's total sales for Q1FY18 came in at Rs 822.6 crore, which represents a 1.27 per cent sequential increase and 2.45 per cent YoY increase.
L&T Technology Services Ltd reported its results for the quarter ended June 30, 2017 today.
The company's total sales for Q1FY18 came in at Rs 822.6 crore, which represents a 1.27 per cent sequential increase and 2.45 per cent YoY increase.
Its operating profit (EBIT) for the quarter amounted to Rs 125.7 crore and its EBIT margin stood at 15.28 per cent.
The company reported PAT of Rs 98 crore, which represents a sequential QoQ increase of 1.55 per cent and a YoY decline of 9.26 per cent.
The employee attrition stands at 13.4%, as against the 14% in last quarter and utilisation for the quarter stands at 75.1% as against 74.2% in last quarter.
During the quarter, it acquired Esencia Technologies, San Jose, California. Esencia Technologies is a provider of design services from specification to final product in digital signal processing for video, security and networking, communications.
Additionally, it has bagged a long-term contract from a major European car maker to develop and support applications of autonomous drive systems for its range of vehicles. Also, it has received contract from a US-based leader in industrial automation for development, support and validation of its drives and motors.
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