L&T Infotech Q4FY22 net rises 17% YoY to Rs 638 cr, up 4% sequentially

Buoyed by broadbased growth across verticals and geographies, firm posts strongest revenue addition for the fiscal, up nearly 32% YoY; attrition at 24% rises marginally QoQ

Larsen & Toubro Infotech (LTI) reported net profit of Rs 637.5 crore for the fourth quarter of FY22 up 16.8 per cent year-on-year and 4.1 per cent on sequential basis.

Buoyed by broadbased growth across verticals and geographies, the company reported its strongest revenue addition for the fiscal. For Q4FY22 revenue grew by 31.6 per cent at Rs 4,301.6 crore, and was up 4 per cent sequentially. In US dollar terms the company’s revenue was up 3.1 per cent.

“We are delighted to cross the $2 billion revenue milestone with record growth of 26 per cent in FY22, our strongest since listing. The year has seen the highest

new client openings and net headcount additions. In Q4 FY22, we won 4 large deals with net new TCV of over $80 million. Our deal pipeline continues to be robust, and we remain confident of maintaining industry leading growth in the coming year as well,” said Sanjay Jalona, Chief Executive Officer & Managing Director, LTI.

When asked on the merger buzz of LTI and Mindtree Jalona said: “We do not comment of market speculation.”

EBIDTA margins for the quarter came in at 19.7 per cent, down from 20.1 per cent reported in preceding quarter. Growth was driven by BFS and hi-tech and M&E at 37.4 per cent respectively, followed by manufacturing and insurance.

Attrition for the company touched 24 per cent up from 22.5 per cent in Q3 of FY22 and 12.3 per cent in Q4 FY21. The total headcount for Q4FY22 was 46,648.