LTI surges 5% on strong growth in Q1FY21 PAT and revenues

Larsen & Turbo Infotech’s PAT for Q1FY21 stood at 416.4cr and revenue at 2,946.2cr.

Jul 16, 2020 09:07 IST India Infoline News Service

LnT Infotech
Larsen & Toubro Infotech, a global technology consulting and digital solutions company, announced its Q1FY21 results on Wednesday. The company’s revenue stood at Rs2,949.2cr, decrease of 2.1% qoq and growth of 18.7% yoy. Net Income stood at Rs416.4cr, decrease of 2.6% qoq and growth of 17.1% yoy.

Dollar revenue was reported at $390.3mn, decrease of 4.8% qoq and growth of 9.5% yoy. Constant currency revenue saw decrease of 4.7% qoq and growth of 10.6% yoy.

Larsen & Toubro Infotech Ltd is currently trading at Rs2,303.10, up by Rs107.6 or 4.97% from its previous closing of Rs2,195.50 on the BSE.

“Covid-19 is a crisis unlike any other and its impact on lives and livelihoods continues to be felt across the world. In a quarter marked by a challenging environment, we have delivered revenue growth of 10.6% yoy in constant currency and closed a large deal as well,” said Sanjay Jalona, Chief Executive Officer & Managing Director.

A U.K. based wealth management firm, has selected LTI for a multi-million, multi-year deal to provide remote infrastructure support, modern cyber security services and migration to IBM Power Cloud from their legacy wealth management platform.

LTI has been chosen by a leading American aerospace company to provide managed services for its data center as well as to enable migration for its on-premise infrastructure to Cloud.

A leading debt management company in Europe has selected LTI to implement a digital integration platform powered by MuleSoft. This platform will replace the existing legacy service layer and integrate all the current and future applications across its 11 countries of operation.

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