L&T Technology Services Limited announced its results for the second quarter ended September 30, 2019
During the quarter, LTTS won 8 multi-million dollar deals across all major industry segments, including new digital engineering programs for automotive, medical devices and plant engineering customers. On a YoY basis, LTTS has increased its USD20mn+ clients by 4 and its USD10mn+ clients by 3.
“The sustained double-digit topline growth in Q2 reflects the strengths of the company across a wide spectrum of industries and the focused investments into capability building. In Q2, three of our verticals – Transportation, Plant Engineering, and Medical Devices grew in excess of 20% on YoY basis.We continue to see significant growth opportunities ahead. Our conversations with customers indicate that spends on areas such as cognitive engineering, cybersecurity and engineering analytics are becoming more pervasive and are leading to development of next generation smart products, services and operations. LTTS’ portfolio of offerings in digital & leading-edge technologies which accounts for 39% of revenue is rightly positioned to capture such opportunities.In a short span of time, LTTS has been recognized as a Leader in the Automotive Engineering Services space by Everest, a validation of the impactful customer programs we are delivering”, said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
