L&T Technology Services Q1 profit rises 5.9%, beats CNBC-TV18 estimates

L&T Technology Services (LTTS) reported a better-than-expected set of earnings for the first quarter, with profit and operating margin surpassing CNBC-TV18 estimates.

The engineering services company posted a net profit of ₹1,468.6 crore for the quarter, up 5.9% from ₹1,387 crore in the year-ago period and above the CNBC-TV18 poll estimate of ₹1,444 crore.

Revenue increased 2.8% year-on-year to ₹11,608 crore from ₹11,291.7 crore, marginally ahead of the CNBC-TV18 estimate of ₹11,570 crore.

In dollar terms, revenue stood at $1.2235 billion, compared with $1.2224 billion a year earlier and broadly in line with the CNBC-TV18 poll estimate of $1.224 billion.

Earnings before interest and tax (EBIT) rose to ₹1,799.3 crore from ₹1,709.4 crore a year ago, beating the CNBC-TV18 poll estimate of ₹1,747 crore.

EBIT margin expanded to 15.5% from 15.1% in the corresponding quarter last year, also ahead of the estimated 15.1%.