Revenue from operations was at Rs 2,653 crore in the December 2024 quarter, up 3.11% as against Rs 2,572.9 crore reported in the preceding quarter of the same year.
On a year-on-year (YoY) basis, the IT firm reported a net profit decline of 4.11% and revenue rose by 9.55% in Q3 FY25.
Profit before tax was at Rs 440.80 crore during the quarter, down 0.2% quarter on quarter (QoQ) and 5.5% YoY.
EBITDA stood at Rs 494.7 crore in the third quarter of FY25, up 6.2% QoQ and 1.44% YoY. EBITDA margin declined to 18.6% in Q3 FY25 from 20.1% in Q3 FY24 and 18.1% in Q2 FY25. EBIT margin was at 15.9% in Q3 FY25 as against 17.2% in Q3 FY24 and 15.1% in Q2 FY25.
In dollar terms, the company's revenue stood at $311.9 million in Q3 FY25, registering growth of 1.7% QoQ and growth of 7.3% YoY. In constant currency, the firm reported a rise of 3.1% QoQ and 8.7% increase on a YoY basis.
During the quarter, LTTS signed one $50 million deal, two $35 million deals, two $25 million deals, and three deals with TCV of $10 million.
At the end of Q3 FY25, the patent portfolio of L&T Technology Services stood at 1,448, out of which 903 are co-authored with its customers and 545 are filed by LTTS, and employee strength stood at 23,465.
Amit Chadha, CEO & managing director of LTTS, said, “We had a strong quarter with 3.1% growth in constant currency led by our Tech and Sustainability segments, where the demand outlook has been steadily improving. In Tech, we grew by 11% sequentially, driven by ramp-ups in Medtech, hyperscalers, and communication providers, where we leveraged our SWC capabilities. Sustainability grew by 4% sequentially, helped by plant modernization and automation demand.
Our large deal TCV has seen a healthy increase with eight wins across segments. The large deal pipeline continues to be robust, aided by ongoing engagements with customers on both new-age product and platform development and business transformation.
Our strategy of investing upfront in the first half of the current fiscal has started yielding results with growth and margin improvement. With the Intelliswift acquisition now complete, we have formed a new sub-segment called Software & Platforms through which we will strengthen our foothold in hyperscalers and enter the service-led sectors, namely retail, fintech, and healthcare, which are new and promising markets for us.
This strategic move enhances our AI, digital, and software product engineering capabilities, increasing our ability to deliver greater value to clients through a unified offering. During the quarter, we inaugurated the NVIDIA AI Experience Zone at our Bengaluru design hub, enhancing AI capabilities for clients in mobility and tech. With 174 patents filed in AI/Gen AI applications, we reaffirm our commitment to AI-led innovation.”
L&T Technology Services (LTTS) is a global leader in engineering and technology services. A listed subsidiary of Larsen & Toubro (L&T), we offer design, development, testing, and maintenance services across products and processes.