L&T Technology Services on April 26, 2023, announced a final dividend of Rs 30 of the face value of Rs 2 (1500 per cent) for the fiscal 2022-23 along with the release of March quarter numbers. For the March quarter, revenue stood at Rs 2,096.2 crore, up 19 per cent year-on-year (YoY) while revenue in constant currency terms grew 12 per cent YoY to $255.1 million. EBIT margin stood at 18.7 per cent while net profit during the quarter grew 18 per cent YoY to Rs 309.6 crore.
“FY23 was a landmark year for us as we crossed a billion dollars in revenue run rate and Rs 1,000 crore in annual profits. Our EBIT margin was the highest ever at 18.5 per cent, driven by a strong focus on building a robust and sustainable operating model. The combination of steady growth and expanding operating margin has led to an 18 per cent CAGR in profits over the last 5 years,” said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.
