Buzzing stock: L&T Technology Services sprinted over 18 per cent on posting powerful Q1FY22 results
L&T Technology Services (LTTS) posted sturdy Q1FY22 results on Wednesday. While Sensex & Nifty touched their record highs in Thursday's trading session, this stock also managed to catch investors’ attention by gaining more than 18 per cent on an intraday basis.
In Q1FY22, the company posted revenue of Rs 1,518.4 crore, recording a growth of 17 per cent on a YoY basis. Meanwhile, the net profit grew by 84 per cent on a YoY basis and stood at Rs 216.2 crore. During the quarter, LTTS bagged six deals with TCV of USD 10 million+, which includes two USD 25 million+ deals. Revenues from digital and leading-edge technologies were recorded to be at 54 per cent during the quarter.
Along with having a healthy deal pipeline across segments, the company has filed a record of 23 patents in Q1FY22. To further strengthen the technology & capability leverage, the company has identified six strategic investment areas namely, electric autonomous & connected vehicle (EACV), 5G, Medtech, digital manufacturing, AI&ML-driven smart offerings and sustainability.
The stock of the company provided its shareholders 42.73 per cent returns on a YTD basis and 135.6 per cent returns in the last one year.
L&T Technology Services is an engineering services company based in Vadodara (Gujarat). It operates as a subsidiary of the conglomerate Larsen & Toubro and is listed on NSE as well as BSE.
On Thursday, the stock was trading at Rs 3,442, which is up by 18.24 per cent on BSE.