L&T Infotech Q1 profit rises 13.3% to Rs267.2 crore
New Delhi: IT services company Larsen and Toubro (L&T) Infotech on Monday said its consolidated net profit rose 13.3% to Rs267.2 crore in the June quarter. This is against a net profit of Rs235.8 crore in the same period last year, L&T Infotech said in a statement.
Revenues rose 7.4% to Rs1,670.7 crore in the reported quarter from Rs1,555 crore in the year-ago period. In dollar terms, revenue was up 12.2% year-on- year at $259.2 million during the first quarter ended June 2017. Sanjay Jalona, CEO and Managing Director of L&T Infotech, said the company continued its growth trajectory with a 2% sequential increase in dollar revenues, reflecting the resilience of its portfolio.
“Digital services and infrastructure management drove Q1 growth and our outlook for the year remains positive. Digital now represents over 29% of our revenues and the client adoption of Mosaic continues to grow,” he added.
Banking, financial services and insurance contributed Rs792.9 crore, while manufacturing and energy and utilities contributed Rs276.7 crore and Rs195.1 crore, respectively.
It had a total headcount of 22,321 people, while attrition was at 14.7%. Shares of the company closed at Rs763.95, marginally lower from its previous close on the BSE.
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