LTTS Q3 profits down 9.1% on higher wage costs, sees record deal wins

L&T Technology Services said third-quarter profits were down 9.1% to Rs Rs 186 crore and revenues by 1.22% to Rs 1449 crore as it spent more on employees in a quarter, which saw record wins from customers globally.

The company won seven deals during the quarter with the value of over $10 million, including a $100 million-plus deal. Revenues from digital and leading-edge technologies stood at 49% during the quarter. The company saw revenue grow over the previous quarter by 6.8% in dollar terms to $190 million.