LTTS Q1 profit up 7%; mobility revives
L&T Technology Services (LTTS) on Tuesday reported a 7.4% sequential rise in consolidated net profit for the June quarter, aided by improving margins, steady large-deal wins and an early recovery in its mobility business after nearly a year of weakness.
The engineering and R&D services company posted a net profit of Rs 357 crore during the April-June, up from Rs 332 crore in the preceding quarter, while revenue rose 2.9% quarter-on-quarter to Rs 2,940 crore from Rs 2,858 crore. In dollar terms, revenue stood at $310 million, registering 1.5% sequential growth in constant currency.
