L&T Infotech Q3 net profit up 10.5% to Rs248 crore
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Mumbai: IT services company L&T Infotech has posted a consolidated net profit of Rs248 crore in the December quarter, up 10.5% from Rs224.5 crore in the same period last year.
Revenues rose to Rs1727.6 crore in the quarter from Rs1515.9 crore in the December quarter of 2015.
“Our robust growth in this quarter is a result of our investments in digital technologies and strong emphasis on client success. Q3 saw us win three large deals with cumulative net-new TCV in excess of $100 million. “These deals are in the areas of infrastructure operations and transformation, ERP transformation-on-the-cloud and upstream application portfolio management,” Sanjay Jalona, chief executive officer and managing director, said in a statement.
“We expect this momentum to continue as global companies are looking for client centric and nimble services partners that can deliver outcomes quickly,” he added. L&T Infotech, a subsidiary of $16 billion Larsen & Toubro Group, has a presence in 23 countries. The company listed on the Bombay Stock Exchange on 21 July.