Mumbai, Jan 15 (IANS) L&T Technology Services (LTTS) on Thursday reported a 6 per cent year-on-year (YoY) decline in its consolidated net profit for the third quarter of FY26 (Q3 FY26).
The mid-tier IT services company posted a net profit of Rs 303 crore for the quarter ended December 31, as compared to Rs 322 crore in the same period last financial year (Q3 FY25).
On a sequential basis, profit slipped 8 per cent from Rs 329 crore in the previous quarter (Q2FY26), according to its stock exchange filing.
However, the company said that excluding the impact of labour codes, profit actually rose 2 per cent year-on-year (YoY) to Rs 329 crore.
Revenue from operations increased 10 per cent year-on-year (YoY) to Rs 2,923 crore, compared with Rs 2,653 crore in the year-ago quarter.
The company’s EBITDA for the quarter stood at Rs 515 crore, registering a 4 per cent rise quarter-on-quarter.
EBIT margin improved to 14.6 per cent, supported by better operational efficiency and a 120 basis point improvement over the previous quarter.
LTTS reported strong deal momentum during the quarter, securing multiple large contracts.
These included a $70 million engagement from a global original equipment manufacturer, along with deals worth $30 million, $20 million, and five additional contracts each valued above $10 million.
The company said its average total contract value has remained around $200 million for five consecutive quarters.
Commenting on the performance, CEO and Managing Director Amit Chadha said the company continues to see double-digit growth in its Sustainability segment, while the Mobility business is showing signs of recovery.
“The sustainability segment continued to grow double-digit on a YoY basis while Mobility is seeing a turnaround,” Chadha mentioned.
Chadha also said the company is focusing on high-growth and high-margin areas under its five-year Lakshya plan, which is already contributing to improved profitability.
By the end of Q3 FY26, LTTS’ patent portfolio reached 1,655 patents, of which 1,007 were co-authored with clients.
The company’s total employee strength stood at 23,639, it added in its exchange filing.
In the stock market, LTTS shares closed 1.8 per cent lower at Rs 4,240 on the National Stock Exchange.
–IANS
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