L&T Tech Services net profit rises 13% to Rs 311 crore in Q1

Larsen and Toubro Technology Services (LTTS) on Tuesday reported a 13 per cent rise in profit at Rs 311 crore in the April-June quarter.

The company had reported a profit of Rs 276 crore in the year-ago period, LTTS said in a regulatory filing.

Revenue of the engineering arm of the Larsen and Toubro group company has grown 14.71 per cent to Rs 2,301 crore, up from Rs 2,006 crore in the same quarter of the previous fiscal.

Sequentially, the company recorded an 8.5 per cent decline in net profit as their Q4 FY23 earnings capped at Rs 341 crore.

The operational revenue was also reduced by 2.91 per cent quarter-on-quarter, the company said.