L&T Technology announces ₹17 per share interim dividend

17 Oct 2024 , 10:15 AM

On Wednesday (October 16), L&T Technology Services Ltd (LTTS) declared an interim dividend of ₹17 per equity share.

The interim dividend will be paid to equity shareholders of the company whose names appear in the Register of Members or the depositories’ records as beneficial owners of equity shares on Friday, October 25, 2024, the Record Date.

L&T Technology Services’ September quarter net profit increased by 1.3% to ₹319.6 Crore, despite narrowing profit margins. The company reported a net profit of ₹ 315.4 Crore in the year-ago period and ₹ 313.6 Crore in the previous June quarter.

Revenues increased 7.8% to ₹2,572.9 Crore in the reporting quarter, driven by over 24% growth in the European market due to demand from the vehicle sector and sustainability-focused solutions.

LTTS Managing Director and CEO Amit Chadha stated that the company expects revenues to grow by 8-10% in FY25 and would maintain its target of $2 Billion in annual revenue in the medium run.

Higher expenditure on sales and technology reduced the operating profit margin to 15.1% during the reporting quarter, down from 17.1% the previous year and 15.6% the previous quarter.

Chadha stated that the company will hire 2,000 freshers in FY25, and that offers have already been made. He anticipates attrition numbers to remain stable or improve from present levels. 

For feedback and suggestions, write to us at [e-mail]