Business Wire India
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the first quarter ended June 30, 2019.
Highlights for Q1FY20 include:
During the quarter, LTTS won 7 multi-million dollar deals across all major industry segments. On a YoY basis, LTTS has increased its USD20mn+ clients by 2 and its USD10mn+ clients by 5.
“We had a strong quarter in most of our segments – Industrial Products, Transportation, Medical and Process Industry, with sequential growth accelerating in Q1 as compared to Q4 on the back of multiple deal wins and good deal conversions. Digital & leading-edge technologies - the growth driver for ER&D, contributed to 37% of Q1 revenues and grew by 44% YoY. On the operational front we executed well with the margin trajectory continuing to inch upwards on YoY basis.
Innovation and speed-to-market are key priorities for our customers, and our end-end capabilities spanning product and process engineering are enabling us to engage with them at a more strategic level. Further, we are seeing good opportunities to leverage our platforms and solutions that have inbuilt AI & Machine Learning capabilities in the areas of predictive maintenance and energy management.
We are excited about the opportunities in our pipeline and see a clear trend of increasing deal sizes and outcomes,” said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
Industry Recognitions:
Patents
Human Resources
At the end of Q1FY20, LTTS’ employee strength stood at 15,913 a net addition of 773 during the quarter.
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