Synopsis
However, the company's net profit for Q4 from continuing operations, after it divested the Smart World and Communication (SWC) division, jumped 23.6% year-on-year, and gained 8.9% quarter-on-quarter.Listen to this article in summarized format
However, the company's net profit for Q4 from continuing operations, after it divested the Smart World and Communication (SWC) division, jumped 23.6% year-on-year, and gained 8.9% quarter-on-quarter.
LTTS had sold its SWC division in late March, valued at Rs 452 crore, and the sale was undertaken as a slump sale, as the company wanted to focus on pivoting to Engineering Intelligence (EI). It accounted for nearly 10% of the company's revenue. The engineering service provider reported a revenue of Rs 2,857.9 crore for the January-March period, up 8.3% YoY and 2.5% QoQ. In dollar terms, revenue grew marginally, up 0.1% at $305.9 million. "Overall, we are very cautiously optimistic about next year as you look at demand patterns," managing director and chief executive officer Amit Chadha said.
