LTTS shares plunge 10% on muted Q4 performance
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Shares of L&T Technology Services fell 9.5% to the day’s low of Rs 4,689.50 on BSE in Friday's trade after the company yesterday reported an 8% year-on-year (YoY) growth in net profit at Rs 1,304 crore while the standalone revenue stood at Rs 9,647 crore, up by 9% for the March-ended quarter. The company’s EBIT margin stood at 17.1% for the quarter ended March and the board has recommended a final dividend of Rs 33 per share. During the quarter, LTTS signed one USD 100 million, one USD 30 million and two deals each of USD 20 million and USD 10 million. Additionally, they signed one significant empanelment agreement. LTTS also announced that it will streamline and simplify its organizational structure into 3 main segments to drive future growth, scalability and technology innovation. The company will consolidate its existing five segments into three: Mobility, Sustainability, and Hi-Tech, as part of the company's ‘Go Deeper to ...