LTI dollar revenue growth up 8.4 pc q-o-q and 13.7 pc y-o-y

Digital solutions major Larsen & Toubro Infotech (LTI) on Wednesday reported revenue of 394 million dollars during the October to December quarter (Q3 FY20), marking a growth of 8.4 per cent quarter-on-quarter and 13.7 per cent year-on-year.

The constant currency revenue growth was 8.3 per cent q-o-q and 14.2 per cent y-o-y.

In rupee terms, the revenue came in at Rs 2,811 crore with a growth of 9.4 per cent q-o-q and 13.7 per cent y-o-y. Net income stood at Rs 376 crore, up 4.6 per cent q-o-q and 0.3 per cent y-o-y.

"Our outstanding q-o-q growth of 8.4 per cent in Q3 is a result of on-track ramp-up of large engagements we announced earlier. We are extremely pleased with the superior and broad-based performance across verticals and service offerings which underscores the resilience of our diversified portfolio," said Chief Executive Officer and Managing Director Sanjay Jalona.

"Our strategy and investments for powering the breakaway enterprise are resonating well with our clients. We continue to win large deals across regions and have won two such engagements in Q3 with a cumulative net-new total contract value of more than 75 million dollars," he added.

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