L&T Infotech Q2 net profit up 26.7% yoy; USD revenues grow 11.2% yoy; stock up 5%

The sales also rose 16.64% to Rs2,998.40cr in the quarter ended September 2020 as against Rs2,570.70cr during the previous quarter ended September 2019.

Oct 21, 2020 10:10 IST India Infoline News Service

Larsen & Toubro Infotech, a global technology consulting and digital solutions company posted a net profits were up 26.7% yoy at Rs457cr for the Sep-20 quarter. The sales also rose 16.64% to Rs2,998.40cr in the quarter ended September 2020 as against Rs2,570.70cr during the previous quarter ended September 2019.

The stock is currently trading at Rs3,123.70, up by Rs159.05 or 5.36% from its previous closing of Rs2,964.65 on the BSE.

In US Dollars:
  • Revenue at USD 404.5 million; increase of 3.6% QoQ and 11.2% YoY
  • Constant Currency Revenue increase of 2.3% QoQ and 10.5% YoY
In Indian Rupees:
  • Revenue at INR 29,984 million; increase of 1.7% QoQ and growth of 16.6% YoY
  • Net Income at INR 4,568 million; increase of 9.7% QoQ and growth of 26.7% YoY
“We are pleased to report 11.2% YoY growth in revenues and 26.7% YoY growth in net profit in Q2. We are also happy to announce a large deal with net new TCV in excess of USD 40mn in analytics. Our large deal pipeline remains strong and we see increased traction in digital, cloud and analytics space,” - Sanjay Jalona, Chief Executive Officer & Managing Director said.

“The pandemic has made it apparent that organizations need to reimagine their target operating models embracing digital transformations to remain relevant in the marketplace. This presents tremendous opportunities for companies like us with comprehensive digital transformation capabilities,” Sanjay Jalona added.

Related Story