L&T Infotech Q1 net profit up 13.3% at Rs 267.2 cr

IT services company Larsen and Toubro (L&T) Infotech today said its consolidated net profit rose 13.3 per cent to Rs 267.2 crore in the June quarter.
This is against a net profit of Rs 235.8 crore in the same period last year, L&T Infotech said in a statement.
Revenues rose 7.4 per cent to Rs 1,670.7 crore in the reported quarter from Rs 1,555 crore in the year-ago period.
In dollar terms, revenue was up 12.2 per cent year-on- year at USD 259.2 million during the first quarter ended June 2017.
Sanjay Jalona, CEO and Managing Director of L&T Infotech, said the company continued its growth trajectory with a 2 per cent sequential increase in dollar revenues, reflecting the resilience of its portfolio.

"Digital services and infrastructure management drove Q1 growth and our outlook for the year remains positive. Digital now represents over 29 per cent of our revenues and the client adoption of Mosaic continues to grow," he added.

Banking, financial services and insurance contributed Rs 792.9 crore, while manufacturing and energy and utilities contributed Rs 276.7 crore and Rs 195.1 crore, respectively.
It had a total headcount of 22,321 people, while attrition was at 14.7 per cent.
Shares of the company closed at Rs 763.95, marginally lower from its previous close on the BSE.