L&T Infotech Q4 net profit up 14% at Rs 289 cr

IT services company Larsen and Toubro (L&T) Infotech today said its consolidated net profit rose by 13.7 per cent to Rs 289.4 crore in the March quarter of 2017-18.

This is against a net profit of Rs 254.5 crore in the same period last year, L&T Infotech said in a statement.

The company's revenues from operations increased 19.3 per cent to Rs 2,001.2 crore in the reported quarter from Rs 1,677.2 crore in the year-ago period, it added.

In dollar terms, its revenue stood at USD 309 million in March quarter, up 21.6 per cent year-on-year.

For the full-fiscal, net profit increased 14.6 per cent to Rs 1,112.4 crore, while revenue from operations grew 12.4 per cent to Rs 7,306.5 crore from the previous fiscal.

Sanjay Jalona, CEO and MD of L&T Infotech, said the company's growth of 5.3 per cent quarter-on-quarter in the January-March 2018 period is "a result of broad-based performance across all verticals".

"We have delivered an industry-leading growth of 16.7 per cent for the full financial year with digital revenues up 42 per cent year-on-year. Our sustained investments in exponential technologies are establishing us as the digital-partner-of-choice for our customers worldwide," he added.

The company won two large deals with net-new TCV (total contract value) in excess of USD 50 million in the fourth quarter.

It had a total headcount of 24,139 people, while attrition was at 14.8 per cent for the March 2018 quarter.

The board of directors have declared a final dividend of Rs 13.50 per equity share of face value of Re 1 each, subject to approval of the shareholders of the company.