LTI Q1 consolidated net profit up by 19.3% at Rs 496.8 cr

IT firm L&T Infotech (LTI) on Thursday reported a 19.3 per cent rise in consolidated net profit to Rs 496.8 crore for the June 2021 quarter, and declared a special dividend of Rs 10 per share.

The company had registered a net profit of Rs 416.4 crore in the same period a year ago, LTI said in a statement.

Its revenue was up 17.4 per cent to Rs 3,462.5 crore in the reported quarter from Rs 2,949.2 crore in the year-ago period, it added.

"We are pleased to report our best ever Q1 sequential growth of 5.1 per cent, driven by holistic growth across our verticals, service lines, client pyramid and geographies. Our healthy pipeline and continued strong demand make us confident of our future growth," LTI CEO and Managing Director Sanjay Jalona said.

The company, over the past five years, has delivered USD revenue CAGR of 13.5 per cent and more than doubled its net profit, he added.

"I am proud of how we continue to innovate and deliver year on year industry-leading growth. I am also excited as we strengthen our digital engineering capabilities welcoming Cuelogic Technologies to the LTI family, he said.

The board has declared a special dividend of Rs 10 per equity share to commemorate the completion of five years of listing on the stock exchanges in India, the statement said.

The company has fixed August 2 as the record date for the special dividend.

LTI's revenue in US dollar terms grew 20.4 per cent year-on-year to USD 470.2 million.

Its total headcount stood at 38,298 people at the end of the June 2021 quarter, while attrition was at 15.2 per cent.