L&T Infotech Q1 net profit surges 35 pc to Rs 361 cr

IT company L&T Infotech today reported 35.2 per cent rise in consolidated net profit to Rs 361.2 crore for the quarter ended June 2018.

The company registered a net profit of Rs 267.2 crore in the same period a year ago, LTI said in a statement.

Its revenue was up 29 per cent to Rs 2,155.7 crore in the reported quarter from Rs 1,670.7 crore in the year-ago period.

"We are pleased to report a strong start to the year with 5.1% QoQ revenue growth in constant currency. Our growth has been driven by continued healthy momentum across multiple sectors, with double-digit sequential growth in banking and financial services and high-tech and media in Q1," LTI CEO and Managing Director Sanjay Jalona said.

The company's focus on leveraging digital technologies to solve the challenges of physical and digital convergence is resonating with clients and has laid the foundation for a multi-year growth trajectory, he added.

Digital accounted for 34 per cent of the company's revenues.

The company's revenue in US dollar terms grew 23.4 per cent year-on-year to USD 319.9 million.

Its total headcount stood at 25,150 people at the end of June 2018 quarter, while attrition was at 15.1 per cent.