l&t tech q2 outcomes: L&T Tech Q2 Outcomes: Web revenue rises 5% YoY to Rs 315 crore; agency declares dividend of Rs 17/share

Mid-tier IT firm L&T Tech on Tuesday reported 5% progress in its consolidated web revenue at Rs 315 crore for the quarter ended September. It was Rs 300 crore within the year-ago interval.

Income from operations throughout the reporting quarter jumped 5% year-on-year to Rs 2,387 crore as towards Rs 2,282 crore within the second quarter of final yr.

The board of administrators has additionally declared an interim dividend of Rs 17 per fairness share.

The interim dividend will likely be paid to fairness shareholders of the corporate whose names will seem within the register of members or within the data of the depositories as on Friday, October 27, which is the document date.

In fixed forex (CC) phrases, income rosr 2% year-on-year. The greenback income for the quarter stood at $288 million.

EBIT for the September quarter got here in at Rs 407 crore, with an EBIT margin of 17%.

Through the quarter, the corporate gained a complete of seven $10 million-plus TCV (whole contract worth) offers throughout all business segments together with six offers of $15 million every.“We had a robust efficiency with income rising by 3.2% sequentially in fixed forex and working margin sustaining at 17% plus ranges at the same time as we absorbed wage hikes for our workers,” stated Amit Chadha, CEO & MD, L&T Tech.

“Deal momentum was robust with the spotlight being a $10 million plus deal win leveraging SWC capabilities in North America. This win has been the results of having a superior end-to-end expertise stack for wi-fi and 5G communications which is changing into a key differentiator for us,” he added.

On the finish of September quarter, the patents portfolio of L&T Tech stood at 1,198, out of which 785 are co-authored with its clients and the remaining are filed by the corporate.

The corporate’s worker power stood at 23,880 as of September 30, 2023. On Monday, L&T Tech shares closed 1.24% decrease at Rs 4,631 on NSE.

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