LTTS Q3 Results: Net profit at ₹322 crore; targets 10% FY25 revenue growth in Constant Currency

L&T Technology Services Ltd. (LTTS) is targeting about 10% revenue growth in Constant Currency for the financial year 2025. “For FY25, our guidance is for near 10% revenue growth in constant currency, including the contribution from Intelliswift. We reaffirm our medium-term outlook of $2 billion revenue with EBIT margin of 17-18%,” said Amit Chadha, CEO and Managing Director, L&T Technology Services.

The company’s topline and bottomline came in below than expected during the October-December period.

The engineering research and development services company reported net profit at ₹322.4 crore, compared to CNBC-TV18’s poll of ₹330 crore.

LTTS’ revenue stood at ₹2,653 crore, a 9.5% year-on-year growth, compared to the same period last year. Sequentially, the company saw a growth of 3.1%.

The company’s dollar revenue stood at $312 million, a growth of 3.1% quarter-on-quarter and 8.7% year-on-year in constant currency.

EBIT for the quarter stood at ₹422 crore in the quarter. A CNBC-TV18 poll had pegged the figure at ₹411 crore.

EBITDA margin for the quarter rose 110 basis points sequentially, at 16.2%, excluding one-time non-operational M&A expense. The company continues to aspire for EBIT margins to be better in the second half compared to H1, on its organic book of business.

LTTS also reported its highest ever large deal bookings. Eight large deals: one $50 million, two $35 million, two $25 million, and three $10 million deals.

“Our large deal TCV has seen a healthy increase with eight wins across segments. The large deal pipeline continues to be robust aided by ongoing engagements with customers on both new age product and platform development and business transformation,” Chadha said.

Shares of LTTS ended 3.47% lower on Wednesday at ₹4,870.