L&T Technology Services Ltd. Announces Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 21, 2017 at 06:42 am
Share
L&T Technology Services Ltd. announced unaudited consolidated and standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter on standalone basis, the company reported total income of INR 7,963 million compared to INR 7,656 million a year ago. Profit from ordinary activities before finance cost and exceptional items was INR 1,565 million compared to INR 1,688 million a year ago. Profit from ordinary activities before tax was INR 1,564 million compared to INR 1,683 million a year ago. Net profit for the period was INR 1,178 million or INR 11.13 per diluted share compared to INR 1,311 million or INR 10.66 per diluted share a year ago.
For the nine months on standalone basis, the company reported total income was INR 23,871 million compared to INR 22,139 million a year ago. Profit from ordinary activities before finance cost and exceptional items was INR 4,809 million compared to INR 4,188 million a year ago. Profit from ordinary activities before tax was INR 4,804 million compared to INR 4,172 million a year ago. Net profit for the period was INR 2,199 million compared to INR 1,788 million a year ago. Net profit for the period was INR 3,559 million or INR 33.15 per diluted share compared to INR 3,225 million or INR 25.03 per diluted share a year ago.
For the quarter on consolidated basis, the company reported total income was INR 8,274 million compared to INR 8,376 million a year ago. Profit from ordinary activities before finance cost and exceptional items was INR 1,478 million compared to INR 1,686 million a year ago. Profit from ordinary activities before tax was INR 1,473 million compared to INR 1,679 million a year ago. Net profit for the period was INR 1,086 million or INR 10.26 per diluted share compared to INR 1,307 million or INR 10.61 per diluted share a year ago. EBITDA was INR 1,457 million against INR 1,537 million a year ago. EBIT was INR 1,308 million against INR 1,399 million a year ago.
For the nine months on consolidated basis, the company reported total income was INR 24,910 million compared to INR 23,382 million a year ago. Profit from ordinary activities before finance cost and exceptional items was INR 4,581 million compared to INR 4,064 million a year ago. Profit from ordinary activities before tax was INR 4,566 million compared to INR 4,045 million a year ago. Net profit for the period was INR 3,285 million or INR 30.52 per diluted share compared to INR 3,095 million or INR 23.75 per diluted share a year ago.
L&T Technology Services Limited is an India-based engineering research and development (ER&D) services provider. The Company offers consultancy, design, development and testing services across the product and process development life cycle. The Company operates in three segments: Mobility, Sustainability, and Hi-Tech. The Mobility segment encompasses automotive, commercial vehicles and aerospace verticals. The Sustainability segment covers industrial machinery and building technology, electric and power, fast-moving consumer goods (FMCG), and oil and gas. The Hi-Tech segment includes MedTech, semiconductors, consumer electronics, hyperscalers, and NexGen Comm verticals. It operates its technology areas into three horizontals: artificial intelligence (AI) and Software Defined Everything (SDx), embedded systems, and digital manufacturing solutions. It serves approximately 69 Fortune 500 companies and 57 ER&D companies.
L&T Technology Services Ltd. Announces Unaudited Consolidated and Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016