L&T Technology Services shares rally over 8 per cent post Q4 earnings

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shares L&T Technology Services On Thursday (LTTS) jumped more than 8 percent after the company reported an 18 percent growth in net profit for the March quarter.

At 12.40 pm, the stock was up 6.84 percent to $3,732 on BSE.

On NSE, it rose 8.20 per cent to Rs 3,729.

L&T Technology Services reported on Wednesday 18 per cent growth in March quarter net profit at ₹309.6 crore.

The engineering services company’s net profit after tax in FY23 increased by 22 per cent to INR 1,169.8 crore.

For the report quarter, the company’s revenue grew by 19% to ₹2,096.2 crore while operating profit margin stood at 18.7%.

Targets the growth of 20 pcs

Amit Chadha, the company’s managing director and CEO, told PTI that it will target revenue growth of more than 20 percent in FY24.

The company added 1,400 people in fiscal year ’23 to bring its total employee base to 22,233 at the end of fiscal year. Shadda said it will add at least 2,000 people to its rosters in FY24.