2024-10-17 11:15:13 :
L&T Technology Services second quarter results live broadcast: L&T Technology Services announced its second quarter results on October 16, 2024. Revenue increased by 7.81% year-on-year, and profit increased by 1.33% year-on-year. Compared with the previous quarter, the company showed solid growth, with revenue increasing by 4.51% and profit increasing by 1.91%.
However, the financial report emphasized that selling, general and administrative expenses increased, with a month-on-month increase of 4.02% and a year-on-year surge of 11.56%. The increase in operating costs has raised concerns about the company’s future profit sustainability.
Operating income increased slightly by 1.07% from the previous quarter, but dropped significantly by 4.86% year-on-year. Second quarter earnings per share (EPS) were $30.12, a year-on-year increase of 1.21%.
The company’s stock performance has shown some resilience, returning 2.66% last week, 0.75% over the past six months, and 1.94% year-to-date. Currently, L&T Technology Services has a market capitalization of $56,696.11 Crores, a new 52-week high $6,000 minimum $4,111.
Analyst sentiment remains cautious, with 6 analysts assigning a Strong Sell rating, 11 analysts assigning a Sell rating, 5 analysts assigning a Hold rating, and 1 analyst assigning a Buy rating as of October 17, 2024 Ratings, 1 analysts have a Strong Buy rating. The consensus recommendation is Sell, indicating a lack of confidence in the stock’s short-term performance.
To benefit shareholders, the company declares an interim dividend $17.0. The dividend record date is set as October 25, 2024, and the ex-dividend date is also set as October 25, 2024, which provides investors with a certain financial return despite uneven performance indicators.
L&T Technical Services Finance
| period | Q2 | Q1 | month-on-month growth | Q2 | year-on-year growth |
|---|---|---|---|---|---|
| total revenue | 2572.9 | 2461.9 | +4.51% | 2386.5 | +7.81% |
| Total Selling/General/Administrative Expenses | 1385.2 | 1331.7 | +4.02% | 1241.7 | +11.56% |
| Depreciation/Amortization | 78.3 | 72.6 | +7.85% | 68.1 | +14.98% |
| total operating expenses | 2185.2 | 2078.3 | +5.14% | 1979 | +10.42% |
| operating income | 387.7 | 383.6 | +1.07% | 407.5 | -4.86% |
| net income before tax | 440.8 | 432.7 | +1.87% | 436.1 | +1.08% |
| net income | 319.6 | 313.6 | +1.91% | 315.4 | +1.33% |
| Diluted normalized earnings per share | 30.12 | 29.57 | +1.86% | 29.76 | +1.21% |
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