L&T Expertise Companies (LTTS) reported a web revenue of Rs 341 crore within the March quarter of FY24, up 1.4% quarter on quarter (QoQ). The revenue for the corporate grew by simply 0.2% on-year.
The muted development in revenue comes on the again of the corporate seeing a marginal decline in its working margin which fell from 17.2% in Q3 to 16.9% in This autumn, a fall of 30 foundation factors (1.7%). A 12 months in the past, the corporate’s working margin was at 17.9%.

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The income for the Vadodara-based firm in This autumn stood at Rs 2,537 crore, up 5% sequentially. In December quarter, the engineering service supplier posted a income of Rs 2,422 crore.

In the course of the quarter, LTTS signed one $100 million, one $30 million and two offers every of $20 million and $10 million. Amit Chadha, CEO and MD, LTTS, stated, “With a robust 5.1% sequential development in This autumn, our income run-rate has now crossed the $1.2Bn run-rate, a 12 months after we moved previous the $1Bn mark. We received a landmark $100 million deal in cybersecurity the place we are going to architect and function a complicated cyber intelligence centre by leveraging AI and Digital Forensic options.”

He added, “We at the moment are embarking on the subsequent stage of development with a ‘Go Deeper to Scale’ technique beneath which we are going to streamline our group into 3 segments – Mobility, Sustainability and HiTech. This cohesive construction will improve our agility and area specialization to unlock greater worth for purchasers and staff.”

Attrition got here down from 15.8% within the December quarter to 14.8% within the simply concluded quarter. The corporate’s complete headcount elevated by 514 to succeed in 23,812 on the finish of FY24, after seeing a decline of 582 in Q3.

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