L&T Technology Services Ltd on Wednesday released its fiscal first quarter earnings report with profit at Rs 316.10 crore, surpassing estimates. This was marginally higher than Rs 313.90 crore recorded during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 2866.00 crore, recording a growth of 16.41 per cent as against Rs 2461.90 crore reported during the first quarter of FY25. The company EBIT stood at Rs 381.5 crore.
According to a CNBC TV18 poll, L&T Tech was expected to post Q1 profit at Rs 303 crore and revenue for the quarter in review was estimated at Rs 2,900 crore.
In US Dollar terms, the company’s revenue stood at $335.3 million, posting a drop of 2.9 per cent sequentially but up 13.6 per cent year-on-year. This was slightly below CNBC-TV18’s poll estimate of $338.4 million.
“We commenced the fiscal year with strong momentum in large deals, continuing the trend from the previous quarters with both Europe and US geographies growing on a sequential basis,” Amit Chadha, CEO and Managing Director of L&T Technology Services Limited, said.
L&T Tech Q1: Update on deal wins
Continuing the company’s large deals momentum, L&T Tech, during this quarter, recorded several new deal bookings, including one $50 million, three deals in the $20-30 million range, and six $10+ million deals. The company registered the third consecutive quarter of $200+ million large deals TCV.
“Our ‘Go Deeper to Scale’ approach and investments in advanced technologies are strengthening client relationships and driving robust large deals total contract value (LD TCV). With AI and automation advancing rapidly, client engagements and deal wins are increasing, making AI central to our conversations and programs,” said Amit Chadha.
L&T Tech Q1: Update on patents
At the end of Q1FY26, the patents portfolio of L&T Technology stood at 1,550, out of which 952 are co-authored with clients and the rest are filed by LTTS.
L&T Tech Q1: Update on employee strength
At the end of Q1FY26, L&T Tech said, the company’s employee strength stood at 23,626.
Going forward, backed by an increased order book and a focus on resilience and profitable growth, L&T Tech pencilled a double digit growth in FY26 and expect to maintain its medium-term outlook of $2 billion revenue.