L&T Infotech net rises 26.7%, announces interim dividend of Rs 15 a share

Mid-size IT services firm Larsen & Toubro Infotech (LTI) reported a net profit of Rs 456.8 crore, up 26.7 per cent year-on-year (YoY) and 9.7 per cent on a sequential basis, the company said in an exchange filing.

Revenue of the Mumbai-headquartered IT services firm rose 16.6 per cent year-on-year to Rs 2,998.4 crore during the period under review. The revenue, too, rose 1.7 per cent on a quarter-on-quarter basis. The outperformance comes on the back of improvement in business, financial services and insurance (BFSI), and manufacturing verticals.

Revenues were at $404.5 million, a 2.3 per cent increase in constant currency terms on a quarter-on-quarter basis. Operating margin of the Larsen & Toubro group company expanded 180 basis points sequentially to 22.9 per cent in the three-month period.