L&T Infotech Q3 net profit up 11% to Rs 248 cr

L&T Infotech, the IT services arm of Larsen & Toubro group, today reported 10.5 per cent growth in net profit at Rs 248 crore for the third quarter ended December 31, 2016.
The company's net profit stood at Rs 224.5 crore in the year-ago period.
It reported a growth of 12.1 per cent in consolidated revenue at Rs 1,666.7 crore for the reported quarter from Rs 1,487 crore in the year-ago period.
"Our robust growth in this quarter is a result of our investments in digital technologies and strong emphasis on client success. We grew 3.8 per cent sequentially in constant currency. Q3 saw us win three large deals with cumulative net-new total contract value (TCV) in excess of USD 100 million," L&T Infotech CEO and MD Sanjay Jalona said.

He added that these deals are in areas of infrastructure operations and transformation, ERP transformation-on-the- cloud and upstream application portfolio management.
"We expect this momentum to continue as global companies are looking for client centric and nimble services partners that can deliver outcomes quickly," he said.

In US dollar terms, the company's revenue was up 9 per cent year-on-year at USD 245.1 million.
BFS accounted for 26.2 per cent of the quarter's revenue, while insurance, energy and process contributed 20.8 per cent and 12 per cent, respectively.
CPG, Retail & Pharma, High-Tech, Media & Entertainment and Auto Aero & Others segment accounted for 8 per cent, 10.7 per cent and 22.4 per cent, respectively.

Its headcount was lower by 468 people to 20,605 staff at the end of December quarter. The attrition rate during the quarter stood at 18.1 per cent.