L&T Technology Services announced it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading global technology research and advisory firm. LTTS was among the leading providers in the Breakthrough 15 category globally based on annual contract value (ACV) won over the last 12 months, according to the 1Q 2024 Global ISG Index�. The company was also similarly recognized for the Americas and Asia Pacific regions.Now in its 86th consecutive quarter, the ISG Index� provides an independent quarterly review of the latest sourcing industry data and trends. Each quarter it names the top 15 commercial providers in the Big 15 (revenues of more than $10 billion), Building 15 (revenues between $3 billion and $10 billion), Breakthrough 15 (revenues between $1 billion and $3 billion) and Booming 15 (revenues of less than $1 billion) categories in the Americas, EMEA and Asia Pacific regions. Each Top 15 category includes providers that compete in the traditional sourcing market, as well as those that compete in the as-a-service market, including IaaS and SaaS providers.Powered by Capital Market - Live News

L&T Technology Services and FORVIA, 7th global automotive supplier, signed a strategic partnership � which represents a contract of approximately �45 million - on Engineering development activities for the benefit of its Clean Mobility division. As part of this five-year partnership, approximately 300 engineers from FORVIA`s Augsburg (Germany) and Bangalore (India) sites, have transferred to LTTS. This represents a 95% transfer success rate securing the skills of these teams who will develop internal combustion engine related engineering activities from within LTTS. With LTTS at the helm, these engineers continue their activities for FORVIA from their current locations, guaranteeing seamless collaboration and ongoing support for end customers across Digital PLM initiatives. FORVIA is addressing the evolving automotive landscape on ultra-low emissions while ensuring high-quality engineering support and providing opportunities for maintaining employment. The partnership will deliver engineering services for FORVIA. Additionally, not only will it secure the career path of transferred employees, but it will also enrich their skillsets with exposure to LTTS` extensive portfolio. A key part of the agreement is the capacity given by FORVIA to LTTS to train and reskill these engineers who, supported by the LTTS Global Engineering Academy, will be repositioned over time to work in other fields within the LTTS commercial network.Powered by Capital Market - Live News

Net profit of L&T Technology Services rose 0.24% to Rs 340.90 crore in the quarter ended March 2024 as against Rs 340.10 crore during the previous quarter ended March 2023. Sales rose 7.04% to Rs 2537.50 crore in the quarter ended March 2024 as against Rs 2370.60 crore during the previous quarter ended March 2023.For the full year,net profit rose 7.56% to Rs 1303.70 crore in the year ended March 2024 as against Rs 1212.10 crore during the previous year ended March 2023. Sales rose 9.44% to Rs 9647.30 crore in the year ended March 2024 as against Rs 8815.50 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales2537.502370.60 7 9647.308815.50 9 OPM %19.8120.26 -19.8919.98 - PBDT545.60519.30 5 2075.401919.80 8 PBT471.00462.40 2 1803.801686.00 7 NP340.90340.10 0 1303.701212.10 8 Powered by Capital Market - Live News

L&T Technology Services has allotted 4,700 equity shares under ESOS on 25 April 2024. Powered by Capital Market - Live News

L&T Technology Services announced that the Board of Directors of the Company at its meeting held on 25 April 2024, has recommended a Final dividend of Rs.33 per share (i.e.1650%), subject to the approval of the shareholders.Powered by Capital Market - Live News