20 Jul 2024

L&T Technology Services Sees Q1 Consolidated Net Profit Increase

L&T Technology Services is currently trading at Rs. 4887.55, marking a gain of 42.35 points or 0.87% from its last closing price of Rs. 4845.20 on the BSE.

The stock opened at Rs. 4786.00 and reached a high of Rs. 4974.90 and a low of Rs. 4747.40 during the trading session. A total of 17,512 shares have been exchanged so far.

This 'A' group stock, with a face value of Rs. 2, has hit a 52-week high of Rs. 5884.95 on April 8, 2024, and a 52-week low of Rs. 3910.00 on July 27, 2023.

In the past week, the stock's high and low were Rs. 5084.70 and Rs. 4727.30, respectively. The company currently has a market capitalization of Rs. 51,875.41 crore.

Promoters hold 73.69% of the company's shares, while institutional and non-institutional investors hold 17.53% and 8.77%, respectively.

For the first quarter ending June 30, 2024 (Q1FY25), L&T Technology Services reported a 4.27% increase in net profit to Rs. 312.60 crore compared to Rs. 299.80 crore in the same quarter the previous year. The company's total income rose by 10.42% to Rs. 2309.90 crore for Q1FY25, up from Rs. 2091.90 crore in the corresponding quarter last year.

On a consolidated basis, net profit saw a slight increase of 0.58% to Rs. 313.90 crore for Q1FY25, compared to Rs. 312.10 crore in the previous year. The total income increased by 7.45% to Rs. 2524.10 crore for Q1FY25, up from Rs. 2349.10 crore in the corresponding quarter of the previous year.