L&T Technology Shares Decline After In-line Q2 Earnings

Shares of L&T Technology Services Ltd. declined the most in nearly 10 months after its earnings for the September quarter met average analyst estimates.

Second Quarter Earnings (Consolidated, QoQ)

  • Revenue up 5.9% at Rs 1,607.7 crore.
  • Dollar revenue up 5.7% at $217.4 million.
  • Net profit up 6.3% at Rs 230 crore.
  • Ebitda up 9.9% at Rs 349.3 crore.
  • Margin at 18.4% vs 17.3%.
  • Declared a special dividend of Rs 10 per equity share.

The company expects its revenue to increase 19-20% in FY2021-22.

Honeywell Automation Bags Rs 496.57 Crore Bengaluru Safe City Project Under Nirbhaya Fund

Honeywell Automation India Ltd. won the bid for the Rs 496.57 crore Bengaluru Safe City project under the Nirbhaya Fund announced by the Government of India.

In an exchange filing, the company said that the project duration included 2 years of Capex and 5 years of Opex.

The project aims to create secure environment for women in public places and to prevent all forms of crimes against women by providing safer urban infrastructure and efficient access to law enforcement agencies.

Over 7,000 types of cameras at over 3,000 locations across Bengaluru will be installed, along with the implementation of integrated command and control center.

L&T Technology Shares Decline After In-line Q2 Earnings via @goldsilverrepor
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