LTTS

Jan 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES Q3 CONSOL NET PROFIT 3.03 BILLION RUPEES; IBES EST. 3.38 BILLION RUPEES

• L&T TECHNOLOGY SERVICES Q3 CONSOL REVENUE FROM OPERATIONS 29.24 BILLION RUPEES; IBES EST 30.41 BILLION RUPEES

• L&T TECH - RECORDS ONE-TIME CHARGE OF 354 MLN RUPEES RELATED TO INDIA'S LABOUR CODES

• L&T TECH - GUIDING FOR MID-SINGLE-DIGIT OVERALL GROWTH IN FY26

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Oct 9 (Reuters) - Indian engineering research and development (ER&D) firm Tata Elxsi TTEL.NS reported a fourth straight quarter of widening profit fall on Thursday, as its key transportation business declined amid uncertain markets and geopolitical tensions.

The company, which relies heavily on the auto industry, said net profit fell 32.5% to 1.55 billion rupees ($17.46 million) in the July-September period year-on-year. In the previous three quarters, it had reported a profit fall of between 3.6% and 21.6%.

ER&D firms, which depend on work outsourced by U.S. and European clients, have been under pressure as global automotive clients cut back on investments and R&D spending, reeling from the impact of U.S. tariffs, according to analysts.

Tata Elxsi, which counts Jaguar Land Rover (JLR) among its largest clients, said in July that industry- and customer-specific issues had affected R&D spending and decision-making cycles across geographies.

It added that the global automotive industry remains in flux amid uncertainties surrounding the Chinese market and tariffs, casting a cloud over clients’ R&D plans, while major auto parts makers continue to face challenges.

JLR's temporary production shutdown following a September cyber attack in Britain is also expected to weigh on Tata Elxsi’s quarterly revenue, analysts had said ahead of the results.

Revenue from the transportation segment - Tata Elxsi's biggest - fell 9.9% year-on-year in the second quarter. The segment provides software and engineering services to auto and auto parts makers, including design of parts and technologies.

Its core profit margin came in at 21.1% in the quarter, down from 27.9% a year ago, but bigger than the 20.9% of last quarter.

Overall revenue fell by 3.9% to 9.18 billion rupees.

Shares of the company closed 2.1% higher ahead of results.

($1 = 88.7830 Indian rupees)

(Reporting by Aleef Jahan, Komal Salecha; Editing by Harikrishnan Nair)

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Aug 21 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• LAUNCHES PLXAI, PROPRIETARY GENAI FRAMEWORK

Source text: [ID:]

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July 16 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• EXPECT TO CLOCK DOUBLE-DIGIT GROWTH IN FY26, MAINTAIN MEDIUM-TERM OUTLOOK OF $2 BILLION REVENUE

• EXPECT EBIT MARGINS TO SEE AN IMPROVEMENT IN THE COMING QUARTERS

Source text: ID:nBSE6BMf1k

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July 2 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES - CHOSEN BY TRATON GROUP AS STRATEGIC ENGINEERING PARTNER

Source text: ID:nBSE1tDRKT

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June 30 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES LTD - CO, THYSSENKRUPP STEERING ENTER STRATEGIC PARTNERSHIP

• L&T TECHNOLOGY SERVICES LTD - AGREEMENT TO ESTABLISH SOFTWARE DEVELOPMENT CENTER IN PUNE

Source text: ID:nBSE8zHJty

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June 25 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• SELECTED AS EXCLUSIVE GLOBAL ENGINEERING PARTNER

• FIVE-YEAR AGREEMENT VALUED AT OVER $50 MILLION

Source text: ID:nBSEzTFz8

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March 19 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• LAUNCHES AI-POWERED RAILWAY TRACK INSPECTION SOLUTION

Source text: ID:nBSE6j3V96

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Feb 3 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES LTD - LTTS SMART WORLD JOINS ARIZONA TECHNOLOGY COUNCIL

Source text: ID:nBSEbzsMLs

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Jan 29 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES - SECURES $80 MILLION DIGITAL ENGINEERING DEAL

• L&T TECHNOLOGY SERVICES - LTTS TO SET UP CENTER FOR DIGITAL PRODUCTS & SERVICES

Source text: ID:nBSE8f5cJt

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Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.

Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.

Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.

The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.

ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.

Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.

Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.

Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.

Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.

($1 = 86.4040 Indian rupees)

(Reporting by Aleef Jahan)

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Jan 17 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECH - GOT ORDER FOR PENALTY 1.1 MILLION RUPEES

Source text: ID:nNSE69R567

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Jan 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• Q3 CONSOL NET PROFIT 3.22 BILLION RUPEES, IBES PROFIT EST. 3.32 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 26.53 BILLION RUPEES; IBES EST 26.65 BILLION RUPEES

Source text: [ID:]

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Dec 23 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• EXPANDS COLLABORATION WITH SIEMENS

Source text: ID:nBSE2ywk4k

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Dec 4 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• SECURES $50 MILLION DEAL

• MULTI-YEAR AGREEMENT ESTIMATED AT $50 MILLION

Source text: ID:nBSE3xZJLh

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Nov 18 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• ANNOUNCES STRATEGIC COLLABORATION WITH COLORADO SMART CITIES ALLIANCE

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Oct 24 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECH - L&T TECHNOLOGY SERVICES UNVEILS AI EXPERIENCE ZONE BUILT ON NVIDIA AI

• L&T TECH - NEW EXPERIENCE ZONE TO CATER TO CLIENTS IN MOBILITY, TECH SEGMENTS

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Oct 16 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES Q2 CONSOL NET PROFIT 3.2 BILLION RUPEES, IBES PROFIT EST. 3.33 BILLION RUPEES

• L&T TECHNOLOGY SERVICES Q2 CONSOL REVENUE FROM OPERATIONS 25.73 BILLION RUPEES; LSEG IBES REVENUE EST 25.67 BILLION RUPEES

• L&T TECH - DIVIDEND 17 RUPEES PER SHR

Source text for Eikon: [ID:]

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Rewrites paragraph 1 with rivals, adds details, background, analyst comments from paragraph 2

By VarunVyas Hebbalalu and Ashna Teresa Britto

Oct 11 (Reuters) - India's Tata Consultancy Services' TCS.NS shares slumped as much as 2.7% on Friday after its second-quarter profit missed Street estimates, although rivals advanced on expectations that demand in their key banking segment was recovering.

The stock, which was choppy in early trade, was last down 2.4% at 4,125.15 rupees.

On Thursday, the country's No.1 IT firm posted a net profit of 119.09 billion rupees ($1.42 billion), missing analyst estimates, as revenue in its North American market, which accounts for nearly half of overall sales, fell for a fourth straight quarter.

TCS' revenue declined in North America due to a client in the lifesciences and healthcare vertical reducing the scope of a project, it said, without elaborating.

The results are not a broad-based gauge for demand as the weakness was client-specific, said Abhishek Kumar, analyst at JM Financial.

The market is optimistic about IT companies in light of further U.S. rate cuts, he said.

Indian IT firms get a large chunk of their revenue from the United States.

Still, the company's banking, financial services and insurance (BFSI) segment, its largest vertical, showed signs of recovery.

Its BFSI division grew in North America, but saw some softness in the UK and European markets.

"TCS' second-quarter results suggest that the road to recovery in developed markets is likely to be volatile. However, we keep the faith given TCS' continued hiring and improvement in outlook for BFSI," Jefferies said.

Rivals Infosys INFY.NS, Wipro WIPR.NS and HCLTech HCLT.NS, due to report results next week, rose 0.1%-1.5% on Friday. BFSI is a major revenue-generator for Indian IT firms.

"Revenue and margins challenges in Q2 were specific to TCS in our view, but the improving demand visibility and BFSI recovery are positive signs for the sector, PhillipCapital analysts said.

TCS' second-quarter operating margin inched down 0.2% year-on-year to 24.1%.

At least seven analysts slashed their price targets on TCS' stock after results, while nine bumped up their price targets, per LSEG data.

($1 = 83.9625 Indian rupees)

(Reporting by Varun Hebbalalu and Ashna Teresa Britto in Bengaluru; Editing by Varun H K and Sonia Cheema)

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Aug 27 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• SEES REVENUE OF $1.26 BILLION - $1.28 BILLION FOR FY25

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Aug 21 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECH - THALES AND L&T TECHNOLOGY SERVICES EXPAND COLLABORATION

• L&T TECH - NEW CONTRACT FOR 20-YEAR RELATIONSHIP WITH LTTS

Source text for Eikon: ID:nBSE4f4mKr

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Aug 13 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECH - SHELL SIGNS NEW FRAMEWORK AGREEMENT WITH CO

• L&T TECH - MULTI-YEAR AGREEMENT FOR INTEGRATED ENGINEERING, PROCUREMENT SERVICES

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July 30 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECH- CO, AND PS TECHNOLOGY PARTNER TO TRANSFORM RAILWAYS

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July 23 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES AND SYMPHONYAI PARTNER

• PARTNER TO PROVIDE AI-BASED BUSINESS TRANSFORMATION TO GLOBAL CUSTOMERS

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BENGALURU, July 18 (Reuters) - Indian engineering research and development services provider L&T Technology Services LTEH.NS retained its full-year revenue growth forecast of 8%-10% but missed quarterly revenue expectations on Thursday due to prolonged weakness in its key U.S. market.

The company's revenue grew about 7% to 24.62 billion rupees ($294.4 million) for the three months ending June 30, missing analysts' expectations of 25.31 billion rupees, per LSEG data.

The United States is L&T Technology's largest market, constituting nearly 53% of its revenue. The company's revenue from the North America market fell 1.4% in the quarter.

Revenue in its Indian and European segments rose 12.2% and 23.7%, respectively.

The company won seven orders totalling $100 million in the June quarter, nearly flat from a year ago.

Indian technology exporters have grappled with sluggish demand through the last fiscal year as clients focused on cost cuts to counter higher interest rates. L&T Technology's revenue in financial year 2024 rose 9.4%, its slowest full-year revenue growth since it fell in fiscal year 2021.

While the impact was felt across the sector, research and development firms such as L&T Technology, which counts aircraft engine suppliers and automobile makers as its clients, were less affected than IT services companies.

However, analysts believe the worst is over for the technology sector.

Companies in the sector, which earn a significant share of revenue from the United States, stand to benefit from increased client spending due to likely interest rate cuts in the world's biggest economy later this year, according to analysts.

Last week, L&T Technology's bigger peers Tata Consultancy Services TCS.NS and HCLTech HCTL.NS marginally beat revenue estimates.

While HCLTech projected growth, TCS said it is "too early" to predict sustained growth in future quarters.

Infosys, India's No.2 IT services exporter INFY.NS, raised its full-year growth forecast and beat its first-quarter revenue estimates earlier in the day.

($1 = 83.6292 Indian rupees)

(Reporting by Varun Hebbalalu in Bengaluru; Editing by Sonia Cheema)

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May 2 (Reuters) - L&T Technology Services LTEH.NS / ForviaFRVIA.PA:

• FORVIA AND L&T TECHNOLOGY SERVICES AGREE STRATEGIC PARTNERSHIP ON ULTRA-LOW EMISSIONS ENGINEERING IN GERMANY AND INDIA

• CONTRACT OF APPROXIMATELY €45 MILLION

• FIVE-YEAR PARTNERSHIP

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Corrects headline to say revenue met, and not beat, analysts expectations

BENGALURU, April 25 (Reuters) - Indian engineering research and development services provider L&T Technology Services LTEH.NS reported a 7% rise in its fourth-quarter revenue on Thursday, in line with street expectations, aided by strong deal wins.

WHY IT'S IMPORTANT

Global carmakers and other transport manufacturers are increasingly pivoting to electric and self-driving models, boosting engineering R&D companies such as L&T Technology Services, which work in areas like software-defined vehicles and cybersecurity.

However, the country's broader $254 billion information technology sector has been struggling in recent quarters as clients cut spending amid inflationary pressures.

Earlier this month, peers Tata Consultancy Services TCS.NS and Infosys INFY.NS reported smaller-than-expected quarterly revenues.

Rival Tata Elxsi TTEX.NS had reported a smaller-than-expected quarterly profit on Tuesday due to tepid demand in its media and communications vertical.

BY THE NUMBERS

The company's consolidated revenue from operations rose to 25.38 billion rupees ($304.63 million) for the three months ended March 31, against analysts' expectations of 25.39 billion rupees.

Its consolidated net profit rose marginally to 3.41 billion rupees.

The company also forecast revenue growth between 8%-10% for the fiscal year ending March 2025.

For more details on L&T Technology's results, click here.

GRAPHIC

-- All data from LSEG

KEY QUOTES

"We are now embarking on the next stage of growth with a 'Go Deeper to Scale' strategy under which we will streamline our organization into three segments – Mobility, Sustainability and HiTech," CEO Amit Chadha said.

($1 = 83.3143 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Janane Venkatraman )

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March 20 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES ACCELERATES GENERATIVE AI ADOPTION

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March 15 (Reuters) - L&T Technology Services Ltd LTEH.NS:

• L&T TECHNOLOGY SERVICES SECURES LANDMARK $100 MILLION PROGRAM IN CYBERSECURITY

• WON PROGRAM FROM MAHARASHTRA STATE CYBER DEPARTMENT

• LTTS IN CONSORTIUM WITH KPMG ASSURANCE WILL PROVIDE CYBER SECURITY SOLUTIONS

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March 4 (Reuters) - Intel Corp INTC.O:

• L&T TECHNOLOGY SERVICES COLLABORATES WITH INTEL TO SCALE EDGE-AI SOLUTIONS

• L&T TECHNOLOGY SERVICES LTD - ANNOUNCED A COLLABORATION WITH INTEL CORPORATION AIMED AT DEVELOPING AND PROVIDING SCALABLE EDGE-AI SOLUTIONS

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