News

L&T Technology Services reported a lower-than-expected net profit of ₹311.1 crore for the March quarter, down 3.5% from ₹322.4 crore in the previous quarter and missing the CNBC-TV18 poll estimate of ₹346.9 crore.

Revenue for the quarter rose 12.4% sequentially to ₹2,982.4 crore from ₹2,653 crore in the December quarter. However, it was also below the poll estimate of ₹3,057 crore.

Earnings before interest and tax (EBIT) came in at ₹393.9 crore, declining 6.6% from ₹421.9 crore quarter-on-quarter and trailing the estimated ₹446 crore.

Operating margin for the quarter stood at 13.2%, significantly lower than both the 15.9% margin in Q3 and the CNBC-TV18 poll estimate of 14.6%.

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In dollar terms, revenue was $345.1 million, up 10.6% from $312 million in the December quarter. Still, it fell short of the estimated $352.9 million.

The company’s board has recommended a final dividend of ₹38 per share for FY25. Ahead of the results, shares of L&T Technology Services closed 0.43% higher at ₹4,470 apiece on the BSE.