India's L&T Technology Services drops on revenue miss, forecast cut

L&T Technology Services

16/01/2026 04:07

** Shares of L&T Technology Services LTEH.NS fall 4.3% to 4,063 rupees - lowest since Nov. 18

** Engineering and tech firm's Q3 consol net profit slips 6.14% y/y; revenue, despite rising 10.2% y/y, fell short of estimates

** Co now expects revenue growth for 2026 fiscal year ending March 31 to be in the mid single-digit range, down from its earlier forecast of double-digit growth

** Revenue from the mobility segment, which contributes about 30% of revenue and provides engineering and digital services to auto companies, fell 2.8% due to the company's exposure to the U.S. market

** Emkay ("add"; cuts PT to 4,500 rupees from 4,750) expects negative near-term stock reaction owing to the revenue miss and guidance cut

** However, an anticipated recovery in revenue, potential acceleration in the margin trajectory, and reasonable post-correction valuations underpin our stance, its analysts say

** LTEH fell 5.8% in 2025

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))