L&T Technology Services rose over 2% on Monday after the company said it has partnered with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy, which will increase image quality and scalability of products.
The architecture is a scalable platform that supports multiple applications and offers a real-time decision-making tool to the medical industry, L&T Technology Services said in a filing to the stock exchanges.
This could be a solution to the industry-wide challenges of availability, cost and dependencies associated with custom and proprietary hardware components, the company said.
The architecture has an image processing pipeline for noise reduction, edge and contrast enhancement, texture and color enrichment and speckle correction, Larsen & Toubro’s technology arm said.
With the inclusion of artificial intelligence/machine learning models developed to detect, identify and classify polyps – an abnormal growth often found during colonoscopies.
Without performance bottlenecks and scalability, the solution offers low-latency data transfer and superior image processing.
“This collaboration provides a complete solution for
customers who want to transition to a software-defined business model via real-time AI applications,” said Shanker Trivedi, Senior Vice President of Enterprise Business, NVIDIA.
In October, Amit Chadha, managing director and managing director of L&T Technology Services, told CNBC-TV18 that the company aimed to recruit 2,000 freshers this year. Over 1,000 of them have already been brought on board and the rest are to be on board in the next two quarters.
In the September quarter of FY24, the company reported a 1.4% sequential increase in net profit at INR 315.4 crore, up from INR 3,11.1 crore. The company’s revenue during the same period grew 3.7% on a sequential basis to Rs 2,386.5 crore from Rs 2,301.4 crore in the June quarter.
Shares of L&T Technology Services were trading 1.49% higher at INR 4,520 apiece on the BSE at 10:33.
(Edited by: Asmita Pant)