L&T Infotech drops after Q1 PAT skids 9% QoQ to Rs 497 cr

Larsen & Toubro Infotech (LTI) declined 2.97% to Rs 4,285.90 after the IT firm reported a 8.96% fall in consolidated net profit to Rs 496.80 crore in Q1 June 2021 (Q1 FY22) as against Rs 545.70 crore in Q4 March 2021 (Q4 FY21).

Consolidated revenues grew 5.91% to Rs 3,462.50 crore in Q1 June 2021 compared with Rs 3,269.40 crore in Q4 March 2021. Profit before tax slipped 6.23% to Rs 672.10 crore in Q1 FY22 as against Rs 716.80 crore in Q4 FY21. The Q1 result was declared after trading hours yesterday, 15 July 2021.