With effect from 01 April 2021L&T Technology Services announced the appointment of
Amit Chadha as CEO & Managing Director effective 01 April 2021 in line with previous disclosures made to stock exchanges dated 19 October 2020. Prior to his elevation, Amit was serving the company as Deputy CEO & Whole-Time Board Member.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, author
On a consolidated basis, Tata Power Company reported 28.4% rise in net profit to Rs 248.21 crore on 7.5% increase in net sales to Rs 7597.91 crore in Q3 FY21 over Q3 FY20.
The company s improved profitability was mainly due to better performance in Mundra, steady operational performance across all businesses and interest cost savings on account of debt reduction.
Consolidated EBITDA was up 1% at Rs 1,997 crore in Q3 FY21 as compared to Rs 1,970 crore in Q3 FY20. Profit before tax in Q3 December 2020 stood at Rs 421.09 crore, up by 20.4% from Rs 349.74 crore in Q3 December 2019. Current tax expense increased by 2.41 times to Rs 174.72 crore in the third quarter from Rs 72.5 crore in the same period last year.
L&T Technology Services (LTTS) reported 12.4% rise in consolidated net profit to Rs 186.10 crore on a 6.6% rise in revenue to Rs 1400.70 crore in Q3 FY21 over Q2 FY21.
However, as compared to Q3 FY20, the company s net profit and revenue have declined by 8.8% and 1.6%, respectively.
In dollar terms, revenue stood at $190.1 million for the quarter; up 6.8% quarter-on-quarter (QoQ) and down 4.6% year-on-year (YoY). In constant currency, revenue was up 6.6% QoQ and down 5.2% YoY.
EBIT jumped 18.4% in the third quarter 213.2 crore from Rs 180.1 crore in the second quarter. EBIT margin was at 15.2% as on 31 December 2020 as against 13.7% as on 30 September 2020.
During the quarter, LTTS won 7 deals with TCV of $10 million plus, which includes a $100 million plus deal and two $15 million plus deals. Revenues from digital and leading-edge technologies stood at 49% during the quarter.