L&T Tech Q3: Profits Surge as IT Giant Rides Digital Transformation Wave

L&T Tech shares rose by 3.5% following the earnings announcement.


L&T Tech Q3: Profits Surge as IT Giant Rides Digital Transformation Wave

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.

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