For the Dec-20 quarter, the consolidated operating profits were down -10.83% at Rs213.20cr. This was on the back of higher manpower expenses although this partially compensated by better control over other expenses. As a result, the operating margin or OPM contracted from 16.80% in the Dec-19 quarter to 15.22% in Dec-20 quarter.
Consolidated Profit after tax (PAT) for the Dec-20 quarter was lower by -9.18% at Rs186.90cr on lower operating metrics despite mildly lower tax outgo. PAT margins also contracted from 14.46% in Dec-19 to 13.34% in Dec-20.
Financial highlights for Dec-20 compared yoy and sequentially
|
L&T Technology Services |
|||||
|
Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
|
Total Income (Rs cr) |
₹ 1,400.70 |
₹ 1,422.90 |
-1.56% |
₹ 1,313.80 |
6.61% |
|
Operating Profit (Rs cr) |
₹ 213.20 |
₹ 239.10 |
-10.83% |
₹ 180.10 |
18.38% |
|
Net Profit (Rs cr) |
₹ 186.90 |
₹ 205.80 |
-9.18% |
₹ 166.30 |
12.39% |
|
Diluted EPS (Rs) |
₹ 17.63 |
₹ 19.34 |
₹ 15.69 |
||
|
OPM |
15.22% |
16.80% |
13.71% |
||
|
Net Margins |
13.34% |
14.46% |
12.66% |
||
Key takeaways from the Dec-20 quarter results
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In dollar terms, LTTS reported 6.8% growth in revenues on a sequential basis and 12.4% growth in dollar profits. During the Dec-20 quarter, LTTS won 7 contracts of value exceeding $10 million each.
-
In terms of verticals, 30% of revenues were accounted by the transport sector followed by Telecom & hi-tech at 23% and industrial products at 19.3%. Plant engineering contributed 14.7% in the quarter while medical devices accounted for the balance 12.7% in total revenues in the quarter.
-
In terms of Geographies, North America remains the biggest market giving 61.2% of revenues in the latest Dec-20 quarter. Europe accounts for 16.1% while India accounts for 13.9% of total revenues. In the latest quarter, the offshore : onsite ratio has improved favourably to 57.1 : 42.9.
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( With inputs from indiainfoline)
#Technology #Services #PAT #yoy #Rs1869cr
