L&T Infotech Q4 net income rises 11% to Rs 254 crore

L&T Infotech had registered a net income of Rs 228.2 crore during the fourth quarter of last fiscal


L&T Infotech’s revenues rose to Rs1,677.2 crore in Q4, up 7.7% from Rs1,557.9 crore in the year-ago period.
L&T Infotech’s revenues rose to Rs1,677.2 crore in Q4, up 7.7% from Rs1,557.9 crore in the year-ago period.

New Delhi: IT services company L&T Infotech on Thursday posted an 11.4% rise in net income at Rs 254.5 crore for the March quarter. The company had registered a net income of Rs 228.2 crore during January-March period of last fiscal.

Revenues rose to Rs 1,677.2 crore in the reported quarter, up 7.7% from Rs 1,557.9 crore in the year-ago period.

For 2016-17, net income increased 16.1% to Rs 970.9 crore, while revenue saw a 11.2% growth at Rs 6,500 crore compared to the previous financial year.

“Our superior performance in Q4 and full year FY17 is a result of our intense focus on client success and comprehensive transformation capabilities across digital, analytics, IoT, automation and cloud,” L&T Infotech CEO and managing director Sanjay Jalona said in a statement.

The board of directors has also appointed S N Subrahmanyan as non-executive vice chairman of the board with immediate effect, the company said.

It has also declared a final dividend of Rs 9.70 per equity share (face value of Re 1) for the year 2016-17, it added.

At the end of March 2017, L&T Infotech had 21,023 employees, while the attrition (on last 12 month basis) 16.9%.

The company, which got listed in July last year, has also revamped its brand with the new identity exemplifying the “rapid progress made across all dimensions during last several quarters,” it said.

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