Larsen -; Turbo Infotech net profit in Q3FY22 up by 18% yoy to Rs612.5cr

20 Jan 2022 , 09:22 AM

Larsen & Toubro Infotech's (LTI) profit rose 18% yoy to Rs612.5cr in Q3FY22 versus Rs519.3cr in Q3FY21. The company had reported a profit of Rs552cr in the September 2021 quarter.

The company’s revenue from operations was up 30.1% yoy at Rs4,137.6cr from Rs3,152.8cr in Q3FY21 and up 9.8% qoq from Rs3,767cr.

In US Dollars, revenue stood at USD 553.0 million; a growth of 8.7% qoq and 29.3% yoy. Constant Currency Revenue growth of 9.2% qoq and 30.1% yoy.

“We are happy to report 9.2% qoq revenue growth in constant currency. This is our best ever quarterly sequential growth since listing. Our ongoing revenue momentum sets us up to deliver our highest year-over-year growth as a publicly listed company. We continue to have incredible conversations with our customers on their digital transformation journeys,” Sanjay Jalona, Chief Executive Officer & Managing Director, said.

Meanwhile, the Board of Larsen & Toubro Infotech at its meeting held on January 19, 2022 has approved a scheme of amalgamation for merger of its three wholly-owned subsidiary companies namely, PowerUpCloud Technologies, Lym bye Solutions & Cuelogic Technologies (Transferor Companies) with itself (Scheme).

At around 9.20 am on Thursday, Larsen & Toubro Infotech Ltd was trading at Rs6,643.10 per share down by Rs49.3 or 0.74% from its previous closing of Rs6,692.40 per share  on the BSE.