Shares of L&T Technology Services Ltd. fell after its third-quarter revenue missed analysts’ estimates. However, the company’s net profit beat analysts’ estimates, according to Bloomberg data.
Net profit was up 7.51% quarter-on-quarter at Rs 303.6 crore in the third quarter of the ongoing financial year. Revenues rose 2.68% quarter-on-quarter to Rs 2,048.6 crore but missed analyst estimates
L&T Tech Q3 Results Review – Muted Growth, Guidance Cut; Cautious Outlook: Dolat Capital L&T Technology Services Q3 FY23 (Consolidated QoQ) Revenues up 2.68% at Rs 2,048.6 crore (Bloomberg estimate: Rs 2,061.9 crore) Ebitda up 5.22% at Rs 441.2 crore (Bloomberg estimate: Rs 437.8 crore) Ebitda margin at 21.54% versus 21.02% (Bloomberg estimate 21.2%) Net profit up 7.51% at Rs 303.6 crore
