L&T Infotech’s consolidated net profit rises 13% YoY to Rs 427.5 cr in Q4

Larsen & Toubro Infotech (LTI)’s consolidated net profit for the quarter ended March 2020 (Q4FY20) rose 13 per cent year-on-year to Rs 427.5 crore. It rose 13.5 per cent on a sequential basis.

Revenue of the Mumbai-headquartered IT services firm rose 21.2 per cent year-on-year to Rs 3,011.9 crore during this period.

The numbers rose 7.1 per cent sequentially. Revenues were at $409.9 million, a 4.7 per cent gain in constant currency terms on a quarter-on-quarter basis. Operating margin of the Larsen & Toubro group company expanded 50 basis points sequentially to 16.7 per cent in Q4FY20. The mid-tier IT firm has won two large deals in the March quarter with net-new total contract value (TCV) in excess of $100 million, thereby closing the year with record 8 large deals.