Deal wins were very strong across segments during the first quarter of the fiscal and the deal pipeline was also getting stronger, said L&T Technology Services (LTTS) CEO & Managing Director, Amit Chadha.
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The pure-play engineering services firm on Friday reported a net profit of ₹274 crore for the June ended quarter, a 27% increase compared with the year-earlier period. Revenue grew 23% year-on-year to ₹1,874 crore.
In the quarter, the company won a $50 million-plus deal, four $15 million deals and two deals with a total contract value of $10 million.
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According to Mr. Chadha, growth was led by plant engineering and industrial products, benefitting from spending on digital manufacturing, energy transition, and smart and connected products.
“Our big bets focus has helped us to align ourselves with these strategic and multi-year customer programmes. Deal wins were very strong during the quarter. Our aerospace and rail segment is seeing a revival of large deal bookings,’‘ he added.
LTTS has recently opened an engineering design centre in Toulouse, France to cater to the new-age digital requirements of Aerospace industries.