L&T Technology Services Q3 Review: Valuation Premium To Sustain, Says Prabhudas Lilladher
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Prabhudas Lilladher Report
L&T Technology Services Ltd. reported strong revenue growth of 6.8% QoQ U.S.dollar led by industrial products (up 5.5% QoQ U.S.dollar), plant engineering and telecom (up 9.2% QoQ U.S.dollar) and telecom and Hi-tech (up 14.3% QoQ U.S.dollar).
Revenues from digital and leading-edge technologies stood at 49% during the quarter.
Ebit margin improved by 151 basis points QoQ at 15.2% in Q2 slightly higher than our estimates of 14.7% by 52bps.
Management expects margins to further improve in Q4 led by margin levers (utilization, offshore mix, pyramid, attrition) and higher growth in telecom & Hi-tech segment.
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