Home / Companies / Company Results /  L&T Infotech soars 8% after upbeat March quarter results

MUMBAI : Shares of Larsen & Toubro Infotech surged 7.7% on Wednesday after the company reported a 4.7% sequential rise in revenue in constant currency terms for the March-ended quarter.

Consolidated net profit jumped 13.5% quarter-on-quarter to 427.50 crore in January-March, while net sales rose 7.1% to 3,011.90 crore.

At 0145 pm, the stock traded at 1773.75, up 6.3% from its previous close, while the benchmark Sensex was up 0.58% at 30370.80 points.

During the quarter, 27 new clients were added while attrition rate slowed down sequentially to 16.5% from 17.7%.

L&T Infoetch won two large deals in Q4 with net-new TCV in excess of $100 million, culminating in a record eight large deal wins in this fiscal.

“In a quarter where core geographies were impacted for almost a month, it delivered robust results, the quality of growth was extremely strong with most of the key verticals and geographies delivering healthy growth and would be one of the key beneficiaries of the acceleration in digital adoption driven by pandemic over the medium term." Motilal Oswal Securities said in result note to clients.

The company has recommended a final dividend of 15.50 per equity share of face value of Re 1 each.

On the company's results, Sanjay Jalona, chief executive officer & managing director, said "Its resilient business model, comprehensive digital transformation capabilities and flawless execution helped the company deliver fourth consecutive year of industry leading double-digit revenue growth in this fiscal."

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