Latest News | L&T Technology Services Shares Rally over 8 Pc Post Q4 Earnings

New Delhi, Apr 27 (PTI) Shares of L&T Technology Services (LTTS) on Thursday jumped over 8 per cent after the company reported an 18 per cent growth in its March quarter net profit.

The stock climbed 8.16 per cent to settle at Rs 3,729.35 on the BSE. During the day, it zoomed 8.70 per cent to Rs 3,748.

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At the NSE, it rallied 7.85 per cent to finish at Rs 3,717.80.

The company's market valuation climbed Rs 2,971.82 crore to Rs 39,384.97 crore.

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

The engineering services company's post tax net profit in FY23 rose 22 per cent to Rs 1,169.8 crore.

For the reporting quarter, the company's revenues grew 19 per cent to Rs 2,096.2 crore while the operating profit margin was stable at 18.7 per cent.

The company's managing director and chief executive Amit Chadha told PTI that it will be targeting a revenue growth of more than 20 per cent in FY24.

The company added 1,400 people in FY23 to take its overall employee base to 22,233 at the end of the fiscal. It will be adding at least 2,000 people to its rolls in FY24, Chadha said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)