L-;T Infotech Q3 PAT up 17.99% yoy at Rs612cr on sharp yoy growth in BFSI and manufacturing verticals

20 Jan 2022 , 11:55 AM

L&T Infotech Ltd reported 31.24% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs4,138cr. The revenues were higher by 9.84% on sequential basis.

The company reported 38.4% yoy growth in revenues in the BFSI segment and sequential growth of 9.7%. In the manufacturing vertical, LTI reported yoy growth in revenues of 30.4% and sequential growth of 18.2%.

Constant currency revenues grew 30.1% yoy and 9.2% on sequential basis. YOY growth was led by analytics, AI, cognitive, enterprise integration and mobility. Top 5 clients accounted for 28.3% of revenues and top 20 gave 55.5% revenues.

The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 17.99% at Rs612cr on yoy basis. The profits were up 10.97% on sequential basis.

The profit growth was slower than the revenue growth due to pressure from higher manpower costs and outsourcing costs in the quarter. Offshore now accounts for a healthy 84% of the revenues, among the highest in the peer group. Attrition stood at 22.5%.

PAT margins were lower from 16.45% in Dec-20 quarter to 14.79% in the Dec-21 quarter. NPM was marginally higher sequentially.

Financial highlights for Dec-21 compared yoy and sequentially

	L&T Infotech
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 4,137.60	₹ 3,152.80	31.24%	₹ 3,767.00	9.84%
Net Profit (Rs cr)	₹ 612.00	₹ 518.70	17.99%	₹ 551.50	10.97%
Diluted EPS (Rs)	₹ 34.87	₹ 29.53		₹ 31.41
Net Margins	14.79%	16.45%		14.64%