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LTTS Q3FY26 Consolidated Results
16 Jan 2026, 11:40AM

  • LTTS posted a revenue of $ 326.3 million, down 3.2% q-o-q (4.6% y-o-y). In CC, company posted a growth of 3.9% y-o-y and a degrowth of 2.8% q-o-q.
  • Revenue stood at Rs. 2,923.5 Cr (-1.9% q-o-q/+10.2% y-o-y). The sequential drop was largely driven by HiTech vertical (-9.8%) partially offset by muted growth in mobility (+0.5%) and sustainability (+1.7%).
  • EBIT stood at 427 Cr, up 7.3% q-o-q (+1.2% y-o-y), resulting in EBIT margin at 14.6% (+124bps q-o-q/ -129bps y-o-y) against our estimate of 13.9%. Sequential improvement in margin was primarily driven by lower operating expenses.
  • Adj. PAT excluding labor code law stood at Rs. 329 Cr, flat sequentially (+2.1% y-o-y), resulting in Adj. PAT margin at 11.3% (+23bps q-o-q/ -90bps y-o-y).
  • On TCV front, LTTS sustained its momentum in large deal wins delivering an average TCV of $ 200 million for five straight quarters.

 

Particulars

Q3FY26

Q3FY25

Q2FY26

YoY (%)

QoQ (%)

Revenues in USD (Mn)

326.3

311.9

337.1

4.6

-3.2

QoQ CC

-2.8

3.1

1.3

 

 

YoY CC

3.9

8.7

10.4

 

 

Revenues in INR

2,924

2,653

2,980

10.2

-1.9

Employee benefit expenses

1,643

1,395

1,601

17.7

2.6

Gross Profit

1,281

1,258

1,378

1.8

-7.1

Operating expenses

767

763

888

0.5

-13.6

EBITDA

514

495

491

3.9

4.7

Depreciation

87

73

93

19.1

-6.4

EBIT

427

422

398

1.2

7.3

Other income

33

34

66

-0.6

-49.2

Finance cost

15

16

16

-3.9

-5.7

PBT

446

440

448

1.3

-0.6

Provision for taxation

116

120

119

-3.7

-2.4

PAT before MI

330

320

329

3.2

0.1

Minority Interest

-1

3

-1

-117.2

0.0

Exceptional Items

27

0

0

NA

NA

Reported PAT after MI

303

322

329

-6.1

-7.9

Adj. PAT after MI

329

322

329

2.1

0.1

EPS (Rs)

29

30

31

-6.2

-7.9

 

 

 

 

 

 

Margin (%)

 

 

 

 

 

GPM

43.8

47.4

46.3

-360

-244

EBITDA

17.6

18.6

16.5

-107

110

EBIT

14.6

15.9

13.4

-129

124

NPM

11.3

12.2

11.0

-90

23

Tax Rate

26.0

27.4

26.5

-135

-50

 

Actual vs Estimates

Particulars

Q3FY26A

Q3FY26E

Variance

Revenues in USD (Mn)

326

341

-4.3%

Revenues in INR

2,924

3,035

-3.7%

EBITDA

514

515

-0.3%

EBIT

427

423

1.0%

Adj. PAT after MI

329

340

-3.3%

 

 

 

 

GPM

43.8

45.7

-186.8

EBITDA

17.6

17.0

59.0

EBIT

14.6

13.9

67.6

NPM

11.3

11.2

4.2

Tax Rate

26.0

27.0

-98.4

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