L&T Infotech's PBT rises 16.9% to Rs 558.9 cr in Q1, revenue up 18.7%

Mid-size IT services firm Larsen & Toubro Infotech (LTI) reported a profit before tax (PBT) of Rs 558.9 crore, up 16.9 per cent year-on-year (YoY), while it remained flat on sequential basis, the company said in an exchange filing. The net profit for the quarter ended June 2020 (Q1FY21) rose 17.1 per cent year-on-year to Rs 416.4 crore on account of lower operating expenses. It, however, fell 2.6 per cent on a sequential basis.
 

Revenue of the Mumbai-headquartered IT services firm rose 18.7 per cent year-on-year to Rs 2,949.2 crore during this period. The revenue, too, declined 2.1 per cent