BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
L&T Technology Services Ltd. reported revenue at $197.5 million, 3.9% QoQ, in-line our estimates.
Growth was led by continued healthy demand momentum in plant engineering (up 9.7% QoQ U.S. dollar) and strong recovery in transportation (up 6.7% QoQ U.S. dollar.
Consistent improvement in Ebit margins led to pre-Covid-19 level of margins of 16.6% up 140 basis points QoQ in Q4 FY21, up 60 basis points higher than our estimates.
Management expects margin to sustain at pre-Covid-19 levels led by margin levers (utilization, offshore mix, pyramid, attrition) and scope to improve margins in telecom and hi-tech segment.
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