L&T Infotech stock declines 1% post Q3 numbers

The company’s revenue grew by 6.1% qoq to Rs2,473cr.

Jan 21, 2019 07:01 IST India Infoline News Service

L&T Infotech
Shares of Larsen and Toubro Infotech slipped in the afternoon session on the BSE. The company’s adjusted net profit stood at Rs375cr, down 6.2% qoq.

The company’s revenue grew by 6.1% qoq to Rs2,473cr. EBIT came in at Rs473cr, up 7% qoq. EBIT margin expanded by 17bps qoq to 19.14%.

Revenue from the manufacturing segment stood at Rs388cr, up 8.5% qoq driving overall revenue growth.

The company has entered into a definitive agreement to acquire 100% stake in Ruletronics Limited UK, Ruletronics Systems Inc. US and Ruletronics Systems Pvt Ltd, India (collectively hereinafter referred as 'Ruletron ics'), 2019 for an enterprise value of $7.48mn on a cash-free, debt-free basis, subject to working capital adjustments. Total revenue of Ruletronics for their respective last financial year aggregated to $3.35mn.

Larsen & Toubro Infotech Ltd is currently trading at Rs1,776.45 down by Rs25 or 1.39% from its previous closing of Rs1,801.45 on the BSE. The scrip opened at Rs1,802 and has touched a high and low of Rs1,808 and Rs1,770 respectively.

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