L&T Technology Services Q2 Results Live : L&T Technology Services declared their Q2 results on 16 Oct, 2024, reporting a topline increase of 7.81% and a profit rise of 1.33% year-over-year. The company demonstrated solid growth compared to the previous quarter, with revenue growing by 4.51% and profit up by 1.91%.
However, the financial report highlighted a rise in Selling, General & Administrative expenses, which grew by 4.02% quarter-on-quarter and surged by 11.56% year-on-year. This increase in operational costs raises concerns about the company’s margin sustainability moving forward.
Operating income saw a modest increase of 1.07% compared to the previous quarter but experienced a significant decrease of 4.86% year-on-year. The earnings per share (EPS) for Q2 stood at ₹30.12, reflecting a year-on-year increase of 1.21%.
The company’s stock performance has shown some resilience, with a 2.66% return in the last week, 0.75% over the last six months, and a year-to-date return of 1.94%. Currently, L&T Technology Services boasts a market capitalization of ₹56,696.11 crore, with a 52-week high of ₹6,000 and a low of ₹4,111.
Analyst sentiment remains cautious, with 6 analysts issuing a Strong Sell rating, 11 a Sell rating, 5 a Hold rating, 1 a Buy rating, and 1 a Strong Buy rating as of 17 Oct, 2024. The consensus recommendation is to Sell, indicating a lack of confidence in the stock’s short-term performance.
In a positive move for shareholders, the company has declared an interim dividend of ₹17.0. The record date for the dividend is set for 25 Oct, 2024, with the ex-dividend date also on 25 Oct, 2024, providing some financial return to its investors amidst mixed performance indicators.
L&T Technology Services Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 2572.9 | 2461.9 | +4.51% | 2386.5 | +7.81% |
| Selling/ General/ Admin Expenses Total | 1385.2 | 1331.7 | +4.02% | 1241.7 | +11.56% |
| Depreciation/ Amortization | 78.3 | 72.6 | +7.85% | 68.1 | +14.98% |
| Total Operating Expense | 2185.2 | 2078.3 | +5.14% | 1979 | +10.42% |
| Operating Income | 387.7 | 383.6 | +1.07% | 407.5 | -4.86% |
| Net Income Before Taxes | 440.8 | 432.7 | +1.87% | 436.1 | +1.08% |
| Net Income | 319.6 | 313.6 | +1.91% | 315.4 | +1.33% |
| Diluted Normalized EPS | 30.12 | 29.57 | +1.86% | 29.76 | +1.21% |
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