L&T Technology Services logs Rs 1,304 crore in net profit in FY24

Mumbai: L&T Technology Services Ltd on Thursday reported a net profit of Rs 1,304 crore in FY24, an 8 per cent growth, with revenue of Rs 9,647 crore which is a 9 per cent growth (year-on-year).

The company will also consolidate its existing five segments into three: mobility, sustainability and hi-tech.

For the quarter ended March 31, the engineering services company registered revenue of Rs 2,537 crore, a growth of 7 per cent (year-on-year), with a net profit of Rs 340 crore.

"With a strong 5.1 per cent sequential growth in Q4, our revenue run-rate has now crossed the $1.2 billion run-rate, a year after we moved past the $1 billion mark," said Amit Chadha, CEO and Managing Director, L&T Technology Services.

The company won a landmark $100 million deal in cybersecurity where "we will architect and operate a sophisticated cyber intelligence centre by leveraging AI and digital forensic solutions", he added.

The company said it has filed 54 patents in AI along with a total of 1,296 patents to date.

"We are now embarking on the next stage of growth with a ‘go deeper to scale’ strategy under which we will streamline our organisation into three segments – mobility, sustainability and hi-tech," Chadha added