L&T Technology Services Q2 Results: Net Profit Rises 2% QoQ, Declares ₹17 Interim Dividend

L&T Technology Services Ltd (LTTS) announced a modest growth in its financial performance for the September 2024 quarter, with a net profit of ₹319.6 crore, marking a 1.91% increase compared to ₹313.6 crore in the preceding June quarter. This figure is also slightly higher than the net profit of ₹315.4 crore reported in the same quarter of the previous fiscal year.

The company's total revenue for the reporting period reached ₹3,572.9 crore, up 4.5% from ₹3,421.9 crore a year ago. Sequentially, revenue also increased from ₹3,427.7 crore in the first quarter of the current fiscal, demonstrating the company’s ability to maintain growth in a competitive market.

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However, total expenses for the quarter saw a significant rise, increasing to ₹2,197.1 crore compared to ₹1,991.6 crore in the same period last year. This uptick in expenses has been attributed to various operational costs associated with the company’s ongoing projects and expansions.

In addition to the positive financial results, the board of directors declared an interim dividend of ₹17 per equity share for its shareholders. The record date for the payment of the interim dividend has been set for Friday, October 25, 2024, ensuring that all eligible shareholders will benefit from this distribution.

As of the close of trading, shares of L&T Technology Services settled at ₹5,325, reflecting a marginal increase of 0.12%. The company's strong financial results and dividend declaration are expected to positively influence investor sentiment, further enhancing its position in the market.

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LTTS continues to focus on expanding its service offerings and improving operational efficiencies, which have contributed to its consistent performance. The company remains optimistic about future growth opportunities, particularly in the digital transformation and engineering services sectors.