Bangalore (Karnataka) [India]/Coventry [United Kingdom], May 24 (ANI/BusinessWire India): L & T Technology Services Limited, a global leading pure-play engineering services company, announced that it has signed a collaboration agreement with UK s Coventry University to build and deliver new generation engineering solutions for the automotive and manufacturing sectors.
The partnership will see research undertaken in autonomous mobility solutions and vehicle dynamics with the aim of strengthening LTTS technology capabilities for their global customers. In particular, LTTS and Coventry University will collaborate towards developing technologies and deepening skillsets in Autonomous Driving, EVs and Software Defined Vehicles.
In addition, the university will enable LTTS engineers to acquire advanced knowledge in Automotive and Manufacturing Technologies and Sustainability, empowering them to face myriad challenges around technology upgrades.
Covid-19 second wave weighs down on India s IT firms, captives
A woman walks past a graffiti on a street, amidst the spread of the coronavirus disease (COVID-19) in Mumbai, India, May 10, 2021. REUTERS/Francis Mascarenhas
Synopsis
The second wave of the Covid-19 pandemic has largely impacted younger employees, who make up the bulk of the workforce at these companies. Most organisations are seeing a direct impact on 15-20% of their employees or their families.
Global captive centres and IT services providers are starting to feel the adverse effects of the second Covid-19 wave raging across the country, with a significant number of employees on leave because either they or their dependents are falling sick because of the infection.
L&T Technology Services reappoints Narayanan Kumar as Independent Director
N Kumar is the Honorary Consul General of Greece in Chennai. May 04, 2021 10:11 IST | India Infoline News Service
L&T Technology Services Ltd has informed that the Board has re-appointed Narayanan Kumar as the Independent Director of the Company for a further period of three years and seven months with effect from 15th July 2021 upto and including 14th January, 2025. N Kumar is Vice Chairman of The Sanmar Group, a multinational US $ 1 billion conglomerate headquartered in Chennai, India with manufacturing facilities in India, Mexico and Egypt. The Group is engaged in key business sectors - Chemicals (including Speciality Chemicals), Engineeri
L&T Technology Services (LTTS) s consolidated net profit rose 4.5% to Rs 195.30 crore on 2.8% increase in revenue from operations to Rs 1,440.50 crore in Q4 FY21 over Q3 FY21.
In USD terms, the revenue during Q4 FY21 stood at $197.50 million, registering a growth of 3.9% Q-o-Q (quarter-on-quarter). The EBIT margin was at 16.6% in Q4 FY21, rising 140 bps Q-o-Q.
During the quarter, L&T Technology Services (LTTS) won six deals with TCV of $10 million plus, which includes two $25 million plus deals. The revenues from digital and leading-edge technologies stood at 52% during the quarter.
Amit Chadha, the chief executive officer (CEO) and managing director (MD) of L&T Technology Services, said: We are exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement. The annual free cash flow generation at ₹1,252 crores was at a record high. I am happy to note that in Q4, our revenue is back on the positive
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In IT, midcap companies have outperformed the tier-1 players for quite some time both in terms of the business growth as well as stock price performance, says
MOFSL.
What is your view on
ICICI Bank? The Street has liked their quarterly performance. Going forward. can one add the stock at Rs 600 plus levels?
Yes, we were positively surprised with the numbers that the ICICI Bank came out with and also with the Axis numbers. The Street was expecting improvement in some of these corporate banks. There was strong performance with loan growth showing robust trends across segments retail, SME and corporate. The core operating performance has been very robust. The asset quality has improved with a strong buffer in terms of provisioning that the company has made for any slippages in this second wave of the pandemic. That also gives some comfort on the bank going forward.