L&T Infotech soars 5% post healthy Q4 earnings; Net income up 13% yoy to RsRs427.5cr

In Q4FY20, the company's net income came in at Rs427.5cr rising by13.5% qoq and 12.9% yoy.

May 20, 2020 09:05 IST India Infoline News Service

L&T Infotech
During early deals of Wednesday's trading session, the share price of Larsen & Toubro Infotech surged over 5% on Sensex. Investors were optimistic in the company's stock due to healthy financial performance ending March 2020. The stock opened at Rs1711.90 per piece and clocked an intraday high of Rs1758.90 per piece in few minutes on Sensex.

At around 9.19 am, the stock was trading at Rs1751 per piece up by Rs81.85 or 4.90% on Sensex.

In the pre-market opening, the stock was trading at Rs1711.90 per piece on Sensex, up by Rs42.75 or 2.56%.

In Q4FY20, the company's net income came in at Rs427.5cr rising by13.5% qoq and 12.9% yoy. Meanwhile, revenue surged by 7.1% qoq and 21.2% yoy to Rs3,011.9cr during the latest quarter.

On dollar terms, the company's revenue was at $409.9M up by 3.9% qoq and 15.9% yoy. Subsequently, the constant currency revenue growth stood at 4.7% qoq and 17.4% yoy.

Sanjay Jalona, Chief Executive Officer & Managing Director said, "Our resilient business model, comprehensive digital transformation capabilities and flawless execution helped us to deliver a fourth consecutive year of industry-leading double-digit revenue growth in FY20. We are also pleased to announce two large deals in Q4 with net-new TCV over $100 million, culminating in a record 8 large deal wins for us in FY20."

For FY20, the company's net income and revenue stand at Rs1,520.5cr and Rs10,878.6cr up by 0.3% yoy and 15.2 yoy respectively. In dollar terms, the revenue surged by 13% yoy in FY20 to $1,524.7M, while constant currency growth came in at 14.2% yoy.

In a meeting held on Tuesday, the board of directors recommended a final dividend of Rs15.50per equity share of the face value of Re1 each, subject to the approval of the shareholders.

In the previous closing, the company's stock had ended at Rs1669.15 per piece on Sensex.

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