L&T Tech Q3 Review - Results Slightly Below Estimates; Outlook Continues To Be Strong: Axis Securities

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..Axis Securities Report.L&T Technology Services Ltd. reported a healthy set of results in Q3 FY22. Its revenue stood at Rs 1,688 crore, registering a growth of 5% QoQ, slightly below our expectations. Operating profit exhibited robust growth of 6.1% QoQ to Rs 213 crore. However, the company’s operating margin contracted by 320 basis points QoQ to 15.2%, primarily because of the extended wage hike along with higher operating and employee expenses. The management is confident of achieving sustainable operating margin moving forward as it factors in the strong cost optimisation effort undertaken by L&T Tech as well as its strong execution capabilities. Net income for Q3 FY22 stood at Rs 186 crore, improving by 8.2% QoQ. The management has also retained its revenue guidance to 19%-20%. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

L&T Tech Q3 Review - Results Slightly Below Estimates; Outlook Continues To Be Strong: Axis Securities

L&T Tech Q3 Review - Results Slightly Below Estimates; Outlook Continues To Be Strong: Axis Securities

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