L&T Infotech Q1 PAT slips 3% to Rs 416 cr

Larsen & Toubro Infotech's consolidated net profit fell 2.6% to Rs 416.40 crore on 2.08% decline in revenue from operations to Rs 2,949.20 crore in Q1 June 2020 over Q4 March 2020.

Consolidated profit before tax (PBT) rose 1.3% to Rs 558.90 crore in Q1 June 2020 as against Rs 551.40 crore in Q4 March 2020. Total tax expense for the quarter rose 15% at Rs 142.50 crore as against Rs 123.9 crore in Q4 March 2019. The Q1 earnings were announced post market hours yesterday, 15 July 2020.

In terms of USD ($), revenue was at $390.30 million, recording a fall of 4.8% Q-o-Q (quarter-on-quarter) and a growth of 9.5% Y-o-Y (year-on-year). Constant currency revenue decrease of 4.7% Q-o-Q and growth of 10.6% Y-o-Y.

EBITDA rose 2.38% to Rs 592 crore in Q1 FY21 as against Rs 578.20 crore in Q4 FY20. EBITDA margin stood at 20.1% in Q1 FY21 as against 19.2% in Q4 FY20 and 18.4% in Q1 FY20.

Attrition rate (LTM) stood at 15.2% in Q1 FY21 as against 16.5% in Q4 FY20 compared with 18.3% in Q1 FY20. Number of active clients was at 409 in Q1 FY21 as against 424 in Q4 FY20 on comparison to 354 in Q1 FY20.

Commenting on the Q4 performance, Sanjay Jalona, the chief executive officer (CEO) and managing director (MD), said: "In a quarter marked by a challenging environment, we have delivered revenue growth of 10.6% YoY in constant currency and closed a large deal as well."

Larsen & Toubro Infotech (L&T Infotech) is a global technology consulting and digital solutions company.

Shares of Larsen & Toubro Infotech jumped 5.70% to Rs 2,320.60 on BSE. The scrip hovered in the range of Rs 2,216 to Rs 2,340 so far.

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