L&T Infotech Q2 net profit up by 11.2% at Rs 232.6 crore

IT company L&T Infotech today posted 11.23 per cent rise in consolidated net profit at Rs 232.6 crore for the second quarter ended September 30, 2016.
The company registered net profit of Rs 209.1 crore in the same period a year ago.
"This solid performance is result of our investments in new service lines, partnerships and building a robust sales and marketing engine," L&T Infotech Chief Executive Officer & Managing Director Sanjay Jalona said in a statement.
The company announced acquisition of AugmentIQ in big data and analytics space last month, which positions it to enable data monetisation for clients across verticals.

"Our client-centric approach has helped us win critical engagements in five growth areas of - Digital, Analytics, IoT, Cloud Apps and Automation, many of them against significantly larger and global incumbents. We will remain focused on implementing our LTI 2.0 strategy," Jalona said.
The total income of L&T Infotech increased by 7.58 per cent to Rs 1638.6 crore in the reported quarter from Rs 1523.1 crore in the corresponding period of last fiscal.

During the quarter the company bagged various deals including business from Canada based AGF Investments.
LTI announced a strategic partnership with workplace by Facebook --an enterprise collaboration platform.

The company also declared interim dividend of Rs 6.85 per share.
Shares of L&T Infotech closed at 628.5, down by 0.42 per cent compared to previous close, at BSE today.