L&T Technology Services on Monday gained over 2% after the company said that it has partnered with NVIDIA to develop software-defined architectures for medical devices concentrated on endoscopy, which will boost the image quality and scalability of products.

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The architecture is a scalable platform that assists several applications, offering a real-time decision-making tool for 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 linked to custom and proprietary hardware components, the company said.

The architecture enjoys an image processing pipeline for noise reduction, edge and contrast improvement, texture and colour enrichment, and speckle correction, the technology arm of Larsen & Toubro said.

With the inclusion of Artificial Intelligence/ Machine Learning models developed to detect, identify, and classify polyps - an abnormal growth often found during colonoscopies.

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Without performance bottlenecks, and scalability, the solution offers low-latency data transfer and superior image processing.

"This collaboration provides a complete solution for customers looking to transition to a software-defined business model via real-time AI applications, " Shanker Trivedi, Senior Vice President of Enterprise Business, NVIDIA, said.

In October, Amit Chadha, the Managing Director and CEO 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, with the remaining set to join in the upcoming two quarters.

In the September quarter of FY24, the company reported a 1.4% sequential rise in net profit at ₹315.4 crore, up from ₹3,11.1 crore. The company's revenue for the same period grew by 3.7% on a sequential basis to ₹2,386.5 crore from ₹2,301.4 crore in June quarter.

Shares of L&T Technology Services were trading 1.49% higher at ₹4,520 apiece on BSE at 10:33AM.

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(Edited by : Asmita Pant)

First Published:Nov 20, 2023 11:46 AM IST