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Larsen & Toubro Infotech’s (LTI) reported a 16.82 per cent (y-o-y) jump in profit after tax (PAT) in the fourth quarter of FY22, touching ₹637.5 crores, up from ₹545.7 crores in the same quarter last year.
On a QoQ basis, PAT increased by 4.08 per cent from ₹612.5 crores in Q3. On a full-year basis, PAT stood at ₹2,298.5 crores in FY22, from ₹1,938.2 crores in FY21.
PAT margin remained flat and stable at 14.8 per cent in Q4.
As of FY22 end, LTI’s revenue for the first time crossed $2.1 billion or ₹15,668 crores in FY22 growing 26.7 per cent (y-o-y) .
In Q4–FY22, LTI’s revenue from operations stood at ₹4,301.6 crores, up by 31.57 per cent (y-o-y) as compared to ₹3,269.4 crores in Q4–FY21. On a consecutive basis, it was up by 3.96 per cent from ₹4,137.6 crores.
Sanjay Jalona, CEO, LTI said, “We are delighted to cross the $2 billion revenue milestone with record growth of 26% in FY22, our strongest since listing. Also, to celebrate the 25th year of our journey. Our growth has been broad-based across verticals, service lines, client buckets and geographies. The year has seen the highest new client openings and net headcount additions.”
Bagged four deals
He added, “In Q4 FY22, we won 4 large deals with net new TCV of over $80 million. Our deal pipeline continues to be robust, and we remain confident of maintaining industry leading growth in the coming year as well.”
Of these 4 large deals, three were from existing global Fortune 500 clients and one from a new company. LTI also added four new deals in the $20 million bucket this quarter.
“This fiscal, we added $430 million of incremental revenue, 3X of what we added in FY21 and FY20 combined,” Jalona added.
Top verticals include BFSI growing at over 37 per cent (y-o-y) , manufacturing at 28.4 per cent (y-o-y) and high-tech media & entertainment at 27.8 per cent.
“For the year we have added three clients to $50 million bucket, six to $20 million bucket, nine to $10 million buckets, 11 to $5 million bucket and over 30 clients to $1 million bucket,” he said.
Hiring plans
The net headcount has gone up by 2,448 employees this quarter taking the total headcount to 46,648 employees.
The attrition rate (LTM) in Q4 too increased significantly to 24 per cent, a massive jump from 12.3 per cent in Q4–FY21 and 22.5 per cent in Q3–FY22.
“Last year we had a plan of hiring 5,500 freshers as a floor plan but during the year we hired up to 6,200 freshers. This year, we plan to hire 6,000 freshers as a floor plan which may increase as the business grows this year,” Jalona said.
ESOP allotment
On Tuesday, the IT services company also allotted 4,219 equity shares of face value ₹1 each to eligible employees, as reported to the BSE.
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