LTTS Q1 FY24 Results Key Highlights
- In Q1 Consolidated Revenue up 14% and Net Profit is up 12% YoY
- EBIT Margins 17.2%
- During the quarter, LTTS won a $50m deal and five $10m plus Total Contract Value (TCV) deals
- LTTS has partnered with Palo Alto Networks to provide enterprises in diverse verticals with security services and solutions in 5G and Operations Technology (OT).
- At the end of Q1FY24, the patents portfolio of L&T Technology Services stood at 1,145, out of which 757 are co-authored with its customers and the rest are filed by LTTS
- Fully integrated SWC into organization which has enhanced play in the Next generation communications space. LTTS gameplan of taking SWC global has seen early wins including critical partnerships with telecom service providers, equipment manufacturers and cyber security providers.
- Key Deals Wins
- Maintain Constant Currency revenue growth guidance for FY24 of 20%
- Revenue by Verticals
- Revenue by Geography
- Client Contribution:
- Q1 Attrition Rate 18.9% vs 23% YoY
- Q1 Total Headcount 23392 vs 22131 YoY
Note: This is 1st quarter LTTS is presenting financials after SWC acquisition so comparison in presentation is restated as per compliance