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L&T Tech Net Earnings Increases 39% To Rs 230 Crore In September Quarter

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Shares of L&T Tech settled 5.53 per cent greater at Rs 5,123.40 apiece on the BSEL&T Innovation Solutions Limited - subsidiary of facilities corporation Larsen - & Toubro, announced its July-September quarter results for the financial year 2021-22, reporting a net revenue of Rs 230 crore on a combined basis, compared to Rs 165.5 crore in the matching period in 2015, marking a growth of 39 per cent year-on-year.

The company's earnings from operations in the 2nd quarter of the existing fiscal stood at Rs 1,607.7 crore, compared to Rs 1,313 crore in the exact same duration last year, registering a development of 22.4 per cent year-on-year, according to a regulative filing by the business to the stock exchanges today.

During the September quarter, L&T Tech won 5 deals with TCV of over $10 million, that includes 2 $25 million plus offers.

The business's board stated an unique dividend of Rs.

10 per equity share.

We had a strong quarter with 6 per cent sequential growth in continuous currency driven by healthy traction in digital engineering across all our five sections.

The rising digital adoption throughout our client base has caused our revenue from digital - & leading-edge technologies increasing to 55 per cent in Q2.Our broad-based development was accompanied by a rise in operating margin which at 18.4 per cent is the greatest we have reported.

We will continue the journey of investing in development labs and capability structure, that has actually yielded us gains in market share and operating model efficiency , said Amit Chadha, CEO - & Managing Director, L&T Technology Providers Limited.On Tuesday, October 19, shares of L&T Tech settled 5.53 per cent higher at Rs 5,123.40 apiece on the BSE.

L&T Tech's shares rallied around six percent today ahead of the statement of quarterly outcomes.




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