L&T Technology Q4 result: Revenue rises 7% aided by strong deal wins

The engineering research and development services provider L&T Technology Services reported a 7% rise in its fourth-quarter revenue on Thursday, in line with street expectations, aided by strong deal wins.

Global carmakers and other transport manufacturers are increasingly pivoting to electric and self-driving models, boosting engineering R&D companies such as L&T Technology Services, which work in areas like software-defined vehicles and cybersecurity.

However, the country’s broader $254 billion information technology sector has been struggling in recent quarters as clients cut spending amid inflationary pressures.