L&T Technology Services Ltd stocks grew by 8 % on 27th April and show a current trading of Rs.3,723. During last five trading sessions, the stock generated 10.4 percent return for its stakeholders.
The company unveiled its financial results for both the last quarter and the fiscal year 2022-2023. The Board of the company has also proposed a final dividend of Rs 30 per share, pending approval from the shareholders.
The largest insurance company in India, LIC revealed that its shareholding in L&T technology has increased from 4.988 percent to 5.008 percent.
The company deals in the business of providing engineering and research services.
Analyzing the company's financials, it stands out from other IT sector entities by demonstrating a noteworthy increase in revenue. While other components experienced fluctuating price movements, the company's revenue grew from Rs 2,050 crores in Q3 to Rs 2,096 crores in Q4. Additionally, there was a slight but positive shift in net profit numbers, rising from Rs 305 crores to Rs 311 crores during the same period.
When considering the above metrics on a year-over-year (YoY) basis, the company's revenues have experienced growth from Rs 6,570 crores in the fiscal year 2021-2022 to Rs 8,014 crores in the fiscal year 2022-2023. Similarly, in line with the observed pattern, net profits rose from Rs 960 crores to Rs 1,174 crores, indicating an approximate 22 percent increase.
The company's profitability metrics have shown growth, as evidenced by the increase in return on equity (ROE) from 21.58 percent in the fiscal year 2020-2021 to 25.32 percent in the fiscal year 2021-2022. Additionally, the return on capital employed (ROCE) rose from 30.06 percent to 35.44 percent during the same period.
According to the recent available data for the March quarter, the company's promoters hold a stake of 73.85 percent, while Foreign Institutional Investors (FIIs) hold a stake of 6.69 percent in the company.
Source: Site UPTIME
