L&T Technology Services (LTTS), an engineering services firm posted a net profit of ₹315 crore for the second quarter of FY24, a 5% growth over the corresponding quarter a year ago. It recorded revenue of ₹2,387 crore, up 5% Y-o-Y.
During the quarter, LTTS won a seven deals worth more than $10 million across all industry segments including six of them valued at $15 million each.
“We had a strong performance with revenue growing by 3.2% sequentially in constant currency and operating margin sustaining at 17% plus levels even as we absorbed wage hikes for our employees. Deal momentum was strong,’‘ said Amit Chadha, CEO and Managing Director in his commentary on Tuesday.
Going forward, LTTS would invest in software defined vehicles, artificial intelligence and cybersecurity and would have close to 2,000 employees trained in these expertise over the next few quarters, he added.
