L&T Tech revenue rises 15% in FY18

L&T Technology Services on Tuesday posted an annual revenue growth of 15.4 per cent to ~37.47 billion, and a profit growth of 19 per cent to ~5.060 billion for the year ended March 31.

For the March quarter, the company posted an year-onyear revenue growth of 30 per cent to ~10.54 billion, against a year ago. Net profit rose 65.6 per cent growth to ~1.58 billion during the quarter

Dollar revenue stood at $580 million in the last fiscal, a 20 per cent growth year on year. The company’s board recommended a final dividend of ~12 per share, including an interim dividend of ~4 per share. The total dividend for 2017-18 will amount to ~16 per share.

“Our engineering DNA combined with strong demand for digital and newage technologies has helped us grow ahead of the industry in FY18. The focus on top 30 customers, large-deal wins and technology innovation has enabled us to become India’s fastest growing and leading pure-play engineering services company,” said Keshab Panda, chief executive officer and managing director.

Growth was broad-based during the fourth quarter, with traction across all segments on a sequential basis. The firm won five multi-million dollar deals across process industry, telecom, hi-tech and transportation. It has increased its $40 million-plus annual billing clients by two, and $10 million-plus clients by three on a year-on-year basis.