L&T Technology Q2 net up by 19.7% at Rs 111.9 crore

NEW DELHI: Engineering and research firm L&T Technology Services today posted 19.7 per cent increase in its consolidated net profit at Rs 111.9 crore during the second quarter ended September 30, 2016.

The company registered a net profit of Rs 93.5 crore in the same period a year ago.

"This is propelled by strong execution and enhanced operational efficiencies, resulting in improved profitability. Our focus on innovation engine has led to a robust patent portfolio of 174 patents, while cross pollination of technologies has created renewable energy storage up to 1 MW through stackable inverters," L&T Technology Services Chief Executive Officer & Managing Director Keshab Panda said.

The total income of the company increased by 5 per cent to Rs 837.6 crore during the reported quarter from Rs 797.3 crore in the same period a year ago.

Shares of L&T Technology Services closed at Rs 784.1 a unit, up by 0.7 per cent compared to previous close, at BSE today.