Info-tech

LTI profit surges by 19% to ₹496 cr

Debangana Ghosh Mumbai | Updated on July 15, 2021

Company offers special dividend of ₹10 per equity share

Larsen & Toubro Infotech (LTI) net profit surged 19.13 per cent to ₹496.3 crore in the first quarter ended June 30, 2021, compared to ₹416.6 crore reported last fiscal for the same quarter. On a sequential basis, profit plunged 8.97 per cent from ₹545.2 crore in the fourth quarter of FY21.

It plunged 8.97% to ₹545.2 crore quarter on quarter.

Revenue from operations stood at ₹3,462.5 crore, increasing by 5.91per cent against ₹3,269.4 crore reported last quarter. On a year on year basis, it went up by 17.4 per cent from ₹2,949.2 crore.

On completion of five years of getting listed on the bourses, the company is offering a special dividend of ₹10 per equity share (Face value of ₹1).

North America and Europe continue to be the key revenue contributors growing 6.4% and 5.9% respectively. Indian business, however, declined -20.2 per cent, contributing 6.7 per cent to the revenue in Q1FY22, against 8.9 per cent in Q4FY21.

Attrition rate for the quarter rose to 15.2 per cent, up from 12.3 per cent last quarter. Total headcount stood at 32,477, down from 35,991 in Q4FY21.

“The pandemic has resulted in what we call “The Great Restructuring”. It touches all aspects of our work and our life, across the globe and we are witnessing a long-term, open-ended opportunity. LTI is well-positioned to support our clients, given our focus on exponential technologies. We have been investing in building robust capabilities around Cloud, Data, and Intelligent Enterprise,” Sanjay Jalona, CEO & MD, LTI told BusinessLine.

Published on July 15, 2021

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