L&T Tech shares rose by 3.5% following the earnings announcement.
Key Highlights:
• Strong revenue and net profit growth, exceeding analyst expectations.
• Continued double-digit revenue growth across all major segments (Digital Engineering & Hi-Tech, Industrial Engineering, and Smart World).
• Healthy order book providing visibility for future growth.
• Margin expansion due to cost optimization initiatives.
Management Commentary:
• L&T Tech CEO and MD Sanjay Jalona expressed optimism about the company's prospects, stating that they are "well-positioned to capitalize on the strong demand for digital transformation services."
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• The company expects double-digit revenue growth for FY24.
Market Reaction:
• L&T Tech shares rose by 3.5% following the earnings announcement.
• Analysts remain positive on the company's long-term growth potential.
Disclaimer: This information is provided for general informational purposes only and should not be considered as financial advice. Please consult with a qualified financial advisor before making any investment decisions.