Companies

L&T Infotech profit jumps 21% in Q2

Our Bureau Mumbai | Updated on October 19, 2021

Sanjay Jalona, Chief Executive Officer & Managing Director, LTI

Larsen & Toubro Infotech (LTI) on Monday reported 20.77 per cent growth in net profit at ₹551.7 crore for the quarter ended September 30, against ₹456.8 crore in the same quarter last year. On a sequential basis, profit jumped 11.05 per cent from ₹496.8 crore in Q1.

Revenue from operations stood at ₹3,767 crore (₹2,998.4 crore), growing at 25.6 per cent. It went up by 8.8 per cent quarter on quarter.

BFSI sector continued to be the largest revenue contributor followed by manufacturing; energy and utilities; high-tech, media & entertainment; and CPG , retail, pharma and others.

The company declared an interim dividend of ₹15 per equity share of face value of Re.1 for FY22.

The attrition rate (LTM) grew to 19.6 per cent in Q2 compared to 15.2 per cent in Q1.

Sanjay Jalona, Chief Executive Officer & Managing Director, LTI, said, “We are happy to report the strongest sequential revenue growth and best ever Q2 of 8.9 per cent in constant currency terms. As we cross the $2-billion annual revenue run rate, we continue to remain committed to growth in the future. We are witnessing strong demand and are rapidly scaling up on the supply-side with our headcount up 31 per cent year on year.”

Published on October 18, 2021

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