L&T Technology Q1 Review - Beat Estimates With All-Round Performance, Revised Guidance: Axis Securities

A binary code design decorates the wall of the Fraunhofer IIS pavilion at the CeBIT 2017 tech fair in Hannover, Germany (Photographer: Krisztian Bocsi/Bloomberg)

L&T Technology Q1 Review - Beat Estimates With All-Round Performance, Revised Guidance: 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 Q1 FY22.

Revenue in Q1 FY22 grew by 5.4% QoQ, much ahead of our expectations at Rs 1,518.4 crore.

Operating profit showed strong growth of 13% QoQ at Rs 296 crore and operating margins, too, witnessed a healthy growth of 50 basis points QoQ and stood at 17.3%.

The growth was aided mainly by strong execution, higher utilisation, and depreciation of the currency, etc.

The management is confident about the sustainable operating margins from moving forward backed by the strong cost optimisation effort undertaken and the company’s strong execution capabilities.

Net income for Q1 FY22 stood at Rs 216.2 crore, improving by 11% QoQ.

Click on the attachment to read the full report:

Axis Securities L&T Technologies-Q1FY22 Result Update.pdf

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