L&T Technology Services shares surge over 14% on strong Q2

L&T Technology Services (LTTS) rallied sharply on Wednesday, climbing as much as 14.7% to hit a high of Rs 4,143 after the company posted robust second-quarter results for ***** stock opened at Rs 3,830.70 and gained strongly from the previous close near Rs 3,611, reflecting investor optimism over sequential revenue growth, margin expansion and healthy deal ***** reported consolidated revenue of Rs 3,040 crore for the July-September quarter, up 12.1% year-on-year and 3.4% sequentially. In dollar terms, revenue stood at $317 million, rising 2.7% quarter-on-quarter in constant ***** profit jumped 66.8% year-on-year to Rs 548 crore, aided by a one-time gain of Rs 165 crore from the divestment of its Smart World and Communication business. Excluding the exceptional item, profitability still improved. EBIT margin expanded 60 basis points sequentially to 16.3%, hitting the company’s mid-16% target ahead of schedule.