L&T Technology Services Launches Simulation Centre of Excellence for Airbus in Bengaluru
L&T Technology Services Ltd (LTTS) announced the inauguration of a Simulation Centre of Excellence (CoE) for Airbus at its Bengaluru campus. This state-of-the-art facility is set to bolster engineering support for Airbus’s aircraft structural simulation activities across its European business units in France, Germany, the UK, and Spain.
The simulation CoE is equipped with the latest simulation software, cutting-edge hardware, and high-performance computational machinery. Its primary objective is to unify and standardize processes across Airbus’s European business units and aircraft programs, thereby streamlining efficiency and enhancing productivity.
Initiated about 18 months ago, the project has demonstrated significant growth and development. LTTS plans to substantially scale up the centre over the next two years, underscoring its commitment to fostering innovation and excellence in aerospace engineering. This initiative is expected to help Airbus achieve its program milestones more efficiently.
In the fourth quarter of FY24, LTTS reported a consolidated revenue from operations of ₹2,537.5 crore, marking a 7% increase compared to ₹2,370.6 crore in the corresponding quarter of the previous fiscal year. Sequentially, the revenue grew nearly 5% from ₹2,421.8 crore in the December quarter. For the entire fiscal year, revenue grew by over 9%, reaching ₹9,647.3 crore compared to ₹8,815.5 crore in FY23.
The net profit for the March quarter remained steady at ₹341.4 crore, the same as the corresponding quarter of the previous fiscal year. However, it saw a growth of more than 1% from ₹336.8 crore in the December quarter. For FY24, the net profit increased by over 7%, reaching ₹1,306.3 crore compared to ₹1,216.4 crore in FY23.
As of 12:19 pm on May 23, shares of L&T Technology Services were trading at ₹4,630 apiece on the BSE, up 0.91%.
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