L&T Technology reports 56 pct increase in net profit during Q2 2018-19

L&T Technology Services Thursday reported a 56 per cent growth in net profit at Rs 191.8 crore for the July-September quarter compared to the year-ago period.

The company had a consolidated net profit of Rs 123 crore in the September quarter of last fiscal.

Total income of the company rose to Rs 1,321.1 crore during the second quarter of current fiscal, from Rs 948 crore in the same period last year, L&T Technology Services said in a BSE filing.

On a standalone basis, L&T Technology Services, a subsidiary of engineering company L&T, reported a 62 per cent growth in net profit at Rs 190 crore during the September quarter of current fiscal. It had a net profit of Rs 117 crore in the same period of previous fiscal.

The board declared an interim dividend of Rs 7.50 per equity share.

"We are seeing a healthy deal pipeline and good traction in our focus areas such as Edge computing, Smart Manufacturing, IoT, Electric & Autonomous vehicles. Our customers are investing in new technologies to transform their business and stay competitive," L&T Technology Services CEO & MD Keshab Panda said.