Larsen & Toubro Infotech rallied 6.23% to Rs 1,773.10 after consolidated net profit jumped 13.49% to Rs 427.50 crore on a 7.14% increase in net sales to Rs 3,011.90 crore in Q4 March 2020 over Q3 December 2019.
Consolidated profit before tax rose 10.32% to Rs 551.40 crore in Q4 March 2020 as against Rs 499.80 crore in Q3 December 2019. Current tax expenses fell 28.05% at Rs 96.20 crore in Q4 March 2020 as compared to Rs 133.70 crore in Q3 December 2019. The result was announced post trading hours yesterday, 19 May 2020.
EBITDA margin improved to 19.2% in Q4 March 2020 as compared to 18.8% in Q3 December 2019 and 19.2% in Q4 March 2019. The number of active clients stood at 424 in Q4 March 2020 as against 429 in Q3 December 2019 and 343 in Q4 March 2019. During the quarter, 27 new clients were added in Q4 March 2020 over 29 in Q3 December 2019 and 14 in Q4 March 2019. The attrition rate stood at 16.5% in Q4 March 2020 as compared to 17.7% in Q3 December 2019 and 17.5% in Q4 March 2019.
Commenting on the Q4 performance, Sanjay Jalona, the chief executive officer (CEO) and managing director (MD) of Larsen & Toubro Infotech, has said: "Our resilient business model, comprehensive digital transformation capabilities and flawless execution helped us to deliver fourth consecutive year of industry leading double-digit revenue growth in FY20. We are also pleased to announce two large deals in Q4 with net-new TCV in excess of US$100 million, culminating in a record 8 large deal wins for us in FY20. With strong order wins, healthy revenue momentum and client centric growth strategy, we shall confront near term demand challenges and emerge stronger."
Meanwhile, the board of Larsen & Toubro Infotech have recommended a final dividend of Rs 15.50 per equity share of face value of Re 1 each, subject to approval of the shareholders of the company.
Larsen & Toubro Infotech (L&T Infotech) is a global technology consulting and digital solutions.
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