L&T Infotech rises after Q3 PAT grows 11% QoQ

20 Jan 2022 , 10:34 AM

The IT firms consolidated net profit jumped 18% while revenues increased 31.2% in Q3 FY22 over Q3 FY21. Profit before tax rose by 11% quarter on quarter and 17.8% year on year basis to Rs 823.70 crore in Q3 FY22.

In USD terms, revenue stood at $553 million in Q3 FY22 rising 8.7% quarter on quarter and 29.3% year on year. Constant currency revenue growth was at 9.2% quarter on quarter and 30.1% year on year.

On the margin front, the IT companys EBITDA margin fell to 20.1% in Q3 FY22 from 23.2% in Q3 FY21. EBITDA margin stood at 19.5% in Q2 FY22.

The company said its total client base now stands at 476 active clients at the end of quarter. The firms attrition rate was sharply higher at 22.5% in Q3 FY22 as compared to 19.6% in Q2 FY22 and 12.4% in Q3 FY21.

Sanjay Jalona, CEO & MD of the company said, ?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.?

Meanwhile, the IT companys board approved a scheme of amalgamation for merger of its three wholly owned subsidiary namely, PowerUpCloud Technologies, Lymbyc Solutions and Cuelogic Technologies with itself.

Larsen & Toubro Infotech is a global technology consulting and digital solutions company.

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