LTTS’ net profit down 8% QoQ at Rs 313.6 crore

Facing muted growth and a fall in operating margins, L&T Technology Services said its net profit declined 8% sequentially to Rs 313.6 crore for the first quarter of this fiscal. On a year-on-year basis, the net profit was up 0.8%.

The IT engineering firm’s revenue declined 3% sequentially to Rs 2,461.9 crore in the Q1. On a year-on-year basis, the revenue was up 7%. Operating margins fell to 15.6% in the just concluded quarter from 16.9% in Q4 of FY24. On a year-on-year basis, margins fell by 160 bps (100 bps is 1%).