IT company L&T Technology Services on Tuesday reported a 4% year-on-year (YoY) drop in its consolidated net profit for the quarter ended December 2024 to Rs 322 crore, while revenue from operations rose 9% to Rs 2,653 crore in the quarter.On a sequential basis, net profit for the reporting quarter rose marginally by 0.9% and revenues increased 3%.In constant currency (CC) terms, revenue growth during the quarter was nearly 9% YoY and in USD terms, revenues stood at $312 million.The company bagged 8 large deals in the third quarter including a $50 million agreement.“We had a strong quarter with 3.1% growth in constant currency led by our tech and sustainability segments where the demand outlook has been steadily improving," said Amit Chadha, CEO & MD, L&T Tech.In the tech segment, the company rose 11% sequentially driven by ramp-ups in medtech, hyperscalers and communication providers, where the company leveraged its SWC capabilities.Sustainability business rose 4% QoQ in the reporting quarter helped by plant modernization and automation demand.“Our large deal TCV has seen a healthy increase with eight wins across segments. The large deal pipeline continues to be robust aided by ongoing engagements with customers on both new age product and platform development and business transformation," Chadha said.The company said its strategy of investing upfront in the first half of the current fiscal has started yielding results with growth and margin improvement.With the Intelliswift acquisition now complete, the company has formed a new sub-segment called software and platforms through which it will strengthen the foothold in hyperscalers and enter the service-led sectors namely retail, fintech and healthcare.At the end of the third quarter, the patents portfolio of L&T Tech stood at 1,448, of which 903 are co-authored with its customers and 545 are filed by LTTS.For FY25, the company guided for a near 10% revenue growth in constant currency, including the contribution from Intelliswift. L&T Tech reaffirmed its medium-term outlook of $2 billion revenue with EBIT margin of 17-18%.On Wednesday, L&T Tech shares closed 3.4% higher at Rs 4,870 on the NSE.