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L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global engineering services company, announced today that it worked with Intel Corporation to develop an outdoor smart parking solution. The solution is powered by the Intel distribution of the OpenVINO Toolkit to run AI inferencing models on Intel Xeon scalable processors and Intel Movidius VPUs. With edge AI capabilities, the solution aims to redefine the outdoor smart parking experience in public areas across the globe.
Designed for a cloud-enabled world, the solution has four key components: an operator portal that hosts user information; a mobile application for end-user interface; a digital signage module to ensure safe and secured access; and a digital camera – all connected by the AWS cloud platform. This architecture helps end users easily locate available parking spaces in outdoor parking lots.
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May 04, 2021
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Revenues slid to ₹1,440.5 crore from ₹1,446.6 crore recorded during the same period of the previous financial year L&T Technology Services Ltd (LTTS) has posted a 5.02 per cent fall in consolidated net profit at ₹194.5 crore for the fourth quarter ended March 31, compared to ₹204.8 crore recorded during the same period a year ago.
On a sequential basis, the company, a subsidiary of business conglomerate Larsen & Toubro (L&T), posted a 4.5 per cent rise in net profit from ₹186.1 crore recorded during the three- month period ended December, it said in a statement.
During the reporting quarter, the firm’s revenues slid to ₹1,440.5 crore from ₹1,446.6 crore recorded during the same period of last financial year. LTTS, a pure-play engineering services company, posted a consolidated net profit of ₹663.3 crore (₹818.6 crore) for the financial year ended March 31, with revenues of ₹5,449.7 crore (₹5,619.1 crore).