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L&T Infotech spurts after Q3 net profit rises to Rs 377 cr

Capital Market 

Larsen & Toubro Infotech jumped 3.02% to Rs 1934.85 after consolidated net profit rose 4.6% to Rs 376.70 crore on 9.4% increase in revenue to Rs 2811.10 crore in Q3 December 2019 over Q2 September 2019.

The result was announced during market hours today, 15 January 2020.

On year-on-year (YoY) basis, consolidated net profit inched up 0.32% while revenue expanded 13.68%.

EBITDA grew 13.3% on quarter-on-quarter (QoQ) basis and 3.7% on year-on-year (YoY) basis to Rs 527.7 crore in Q3 December 2019. EBITDA margin rose to 18.8% in Q3 December 2019 compared with 18.1% Q2 September 2019.

"Our outstanding QoQ growth of 8.4% in Q3 is a result of on-track ramp up of large engagements we announced earlier. We are extremely pleased with the superior and broad-based performance across verticals and service offerings, which underscores the resilience of our diversified portfolio.Our strategy and investments for powering the breakaway enterprise is resonating well with our clients. We continue to win large deals across regions and have won two such engagements in Q3 with cumulative net-new TCV of more than $75 million," Sanjay Jalona, chief executive officer & managing director said.

As of 31 December 2019, the firm had 429 active clients compared with 366 in Q2 September 2019 and 314 in Q3 December 2018.

Total headcount stood at 31,419 in Q3 December 2019, with an attrition of 17.7%.

L&T Infotech is a global technology consulting and digital solutions

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 15 2020. 13:09 IST