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L&T Tech's Q3 excites, but don't ignore near-term headwinds
Mint New Delhi
|January 17, 2025
Gaining muscle L&T Technology Services's highest ever deal wins in Q3FY25 aid medium-term revenue visibility.
idcap IT services firm L&T Technology Services Ltd (LTTS) surprised the Street with solid deal wins and margin expansion in the December quarter (Q3FY25). Investors cheered, taking the shares up about 8% on Thursday.
The firm's sequential constant currency (CC) revenue grew 3.1%, broadly in line with estimates, led by its tech and sustainability verticals. The mobility segment remained a sore point, hurt by furloughs and pause in spending by some of its clients.
Nonetheless, the demand outlook is steadily improving, and all verticals are slated to grow in Q4, LTTS management said, adding that FY26 would be better than FY25.
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