LTTS hits a new high

L&T Technology Services (LTTS) has been the top gainer on the BSE right from the opening bell. The stock has hit the 20% UC at Rs.1216.55, a new high after 16 months.

The market is enthused with the company’s Q3FY18 performance. Its consolidated net profit for the quarter rose 2% (QoQ) and up 16% (YoY) at Rs.126 crore. Revenue was up 20% (YoY) and up 6% (QoQ) at Rs.970 crore.

EBIT showed a good 8.5% (QoQ) rise at Rs.134 crore while margins showed a very slight uptick from 13.7% to 13.8%.

The company reported 59% business from North America, 17% from European market, 11.5% from India and 13% from rest of the world.

Its total employee strength stood at 11,941; a net addition of 409 during current Q3.