L&T Infotech Q2 net profit rises 21% to Rs 552 cr, revenue up 26%

'We report the strongest sequential revenue growth and best ever Q2 of 8.9% in constant currency terms,' says company CEO

LTI (Larsen & Toubro Infotech) on Monday reported net profit of Rs 552 crore for the second quarter ended September 30, 2021, up 21 per cent year-on-year and 11 per cent sequentially.

Strong demand led to revenue at Rs 3,767 crore, up 25.6 per cent yoy and 8.8 per cent sequentially. The management said that this was the strongest sequential growth the company has witnessed, taking its annual revenue run rate to cross $2 billion.

“We report the strongest sequential revenue growth and best ever Q2 of 8.9% in constant currency terms. As we cross the $2 billion annual revenue run rate, we continue to remain committed to growth in the future. We are witnessing strong demand and are rapidly scaling up on the supply-side with our headcount up 31% year on year,” said Sanjay Jalona, CEO & Managing Director, LTI.

Growth for the company was driven by all geographies, which grew in double digit on an annual basis. On sequential basis, North America grew by 8.9 per cent, Europe grew 5 per cent and India was up 6 per cent. In terms of verticals, manufacturing (12.4 per cent), BFS (9.6 per cent) and high-tech, media & entertainment led the growth.

Attrition for the quarter spiked to 19.6 per cent from 15.2 per cent in the previous quarter.