Shares of L&T Technology Services Ltd, a company engaged in Engineering Intelligence Solutions and ER&D Consulting Services, rallied over 14 percent in the early trade today, October 21, on the back of strong revenue and margin growth in the second quarter of the financial year 2026-27. The Q2FY27 results of the IT firm were released on Monday (October 19) post market hours.
L&T Technology Services shares opened at Rs 3,830.70 and rose to hit 4,143, rallying 14.7 percent from the previous day close of Rs 3611.30, on the NSE. At the time of filing this report at around 10.30 am, the stock was trading at Rs 4,004.40.
L&T Technology Services' consolidated revenue rose 12.1 percent year-on-year (YoY) to Rs 3,040 crore for the July-September quarter of FY27, from Rs 2,713 crore posted in the year-ago period.
The company's net profit from continuing operations rose 19.6 percent to Rs 380 crore in the reporting quarter. The net income came in at Rs 548.2 crore, up 66.8 percent YoY. Net income margin was at 18 percent in Q2 FY27, which includes one-time gain of Rs 165 crore from the disinvestment of the SWC business.
Revenue at the sustainability segment, which comprises industrial products and plant engineering and is the company's biggest revenue generator, expanded 22.9 percent year-on-year.