LTTS Q1: Net profit up 13%, revenue up 14.7%

L&T Technology Services Limited reported a 13% increase in net profit for the first quarter of financial year 2023-24 at Rs 311 crore. Revenue for the quarter was Rs 2,301 crore, up 14.7% over the year led by strong growth in the transportation vertical.

Sequentially, net profit was down 8.5% while revenue was down 2.9% after segments like consumer electronics and semiconductor engineering business saw some pressure during the quarter. This came amidst delayed decision making by clients and a weak macro economic environment.