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Worst is over for telecom and hi-tech verticals, says L&T Technology’s Keshab Panda

Updated : October 22, 2019 11:27 AM IST

L&T Technology Services has cut its dollar revenue guidance for the second consecutive quarter on the back of telecom, hi-tech and transportation earnings coming in below estimates. However, Keshab Panda, managing director and CEO of the company said that the worst is now over for the telecom and hi-tech verticals.

"We believe the worst is behind us and we should see a positive movement in future," he said in an interview with CNBC-TV18. “It is not going to de-grow again, which happened in the last 2 quarters which impacted our revenue in Q2 and Q1. We believe the segment is going to stabilise now and we should see the growth Q3 onwards."

Panda said that the trade war issues impacted the semiconductor industry.

“The volume of business takes time in the segment but we are very strong in this segment and we believe that we will have bright future in the segment,” he added.

On the margin front, he said, “We have a lot more levers available to us to have a margin improvement which we will attempt to do.”
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