L&T Infotech Q2 net profit surges over 46% to Rs 400 crore

By: | Published: October 24, 2018 8:25 PM

IT company L&T Infotech (LTI) Wednesday reported 46.7 per cent rise in consolidated net profit to Rs 400.3 crore for the quarter ended September 2018.

L&T Infotech, infotech, infotech news, infotech, news today, news now, news todayThe company’s revenue in US dollar terms grew 21.4 per cent year-on-year to USD 328.5 million. (Reuters)

IT company L&T Infotech (LTI) Wednesday reported 46.7 per cent rise in consolidated net profit to Rs 400.3 crore for the quarter ended September 2018. The company registered a net profit of Rs 273 crore in the same period a year ago, LTI said in a statement. Its revenue was up 33.1 per cent to Rs 2,331.2 crore in the reported quarter from Rs 1,750.8 crore in the year-ago period.

“Q2 revenue growth was driven by Digital Services that now make up 37 per cent of our revenues. We secured another large deal for a global pharma company with a net-new TCV of USD 55 million,” LTI CEO and Managing Director Sanjay Jalona said. Healthy pipeline, continued large deal momentum and uptick in Digital Services across all verticals make LTI optimistic about the future, he added.

The company’s revenue in US dollar terms grew 21.4 per cent year-on-year to USD 328.5 million. Its total headcount stood at 26,414 people at the end of September 2018 quarter, while attrition was at 15.3 per cent. The company has declared an interim dividend of Rs 12.5 per equity share.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition