Mumbai, NFAPost: Larsen & Toubro Infotech, a global technology consulting and digital solutions company, on Thursday reported a 19.3% jump in its net profit to Rs 496.8 crore for the quarter ended June 30, 2021 compared with Rs 416 crore in the same period last financial year.
The company’s Q1 FY22 revenues touched Rs 346.25 croe, registering a growth at 5.9% QoQ and 17.4% YoY. Revenue at USD 470.2 million; growth of 5.1% QoQ and 20.4% YoY. On constant currency basis revenue registered a growth of 4.8% QoQ and 17.8% YoY.
The company announced a special dividend of Rs 10 per share to commemorate the completion of 5 years of listing on the stock exchanges in India
LTTS Chief Executive Officer & Managing Director Sanjay Jalona said the company is pleased to report its best ever Q1 sequential growth of 5.1% driven by holistic growth across our verticals, service lines, client pyramid and geographies.
“Our healthy pipeline and continued strong demand makes us confident of our future growth. Q1 also marks the 5-year anniversary of LTI’s IPO and our Board has declared a special dividend to commemorate this occasion. Over these past 5 years, we have delivered USD revenue CAGR of 13.5% and more than doubled our net profit. I am proud of how we continue to innovate and deliver year on year industry leading growth. I am also excited as we strengthen our digital engineering capabilities welcoming Cuelogic Technologies to the LTI family,” said Sanjay Jalona.
Recent Deal Wins
– A Global Fortune 500 energy distribution company has selected LTI for a managed security services deal including L1 SOC and end-to-end support for all security applications. As part of this engagement, LTI will enable a threat intelligence led security operation to reduce business risk
– A key Middle East player in the renewables and oil & gas energy market has selected LTI, through its strategic partnership with a regional digital transformation leader for migration to cloud, modernization and management of its entire IT landscape
– LTI has been selected for an end-to-end IT managed services deal including set up of processes and tools, security operations and monitoring solutions for the divested unit of a global manufacturer and supplier of specialty chemicals based in North America
– The subsidiary of one of the largest banks in Asia has chosen to partner with LTI for the implementation, integration and maintenance support of their private banking platform using Temenos Wealth
– A global semiconductor major based in Europe partnered with LTI to re-design and harmonize its business processes with SAP S/4HANA to make them more scalable, efficient, agile, and flexible
– A multinational company providing energy related solutions based in North America has selected LTI to transform its front and middle office processes using SAP S/4HANA enabling simplification of operations, improved customer experience and cost optimization
– A North American property and casualty insurance company has selected LTI for network support and data base management to ensure seamless operations support round the clock. This will help accelerate their cloud journey
– An insurance broker based in North America has selected LTI to transform and digitize its business operations in one of its key growth segments. This would include its prospecting, sales, and servicing processes to make them modern, offer more choice to customers, scale the business efficiently and drive business decisions through data and analytics
– A North American provider of integrated services, delivery and manufacturing solutions for pharmaceuticals, biologics and consumer health product companies, has selected LTI to support its applications and ERP systems to ensure operational efficiency and cost-effective solutions
– A world-renowned stock market index has selected LTI as a cloud infrastructure and engineering partner to support its multi-year cloud adoption journey
Awards and Recognitions
– LTI recognized in Gartner 2021 Magic Quadrant for Oracle Cloud Application Services, Worldwide
– LTI Leni recognized by Forrester Research as a sample anomaly detection vendor in The Forrester Tech Tide™: Customer Insights Methods, Q2 2021
– LTI Recognized as a Leader in the ISG Provider Lens™ ServiceNow Ecosystem Partners Report, US 2021
– LTI Leni recognized as a Representative Vendor in Gartner Market Guide for Augmented Analytics Tools, Austin Kronz et al.,28 June 2021
Gartner Magic Quadrant for Oracle Cloud Application Services, Worldwide, Katie Gove et al., 24 May 2021
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Other Business Highlights
– The Board of Directors at its meeting held on July 15th, 2021 have declared a special dividend of INR 10 per equity share (Face value of INR 1) to commemorate the completion of 5 years of listing on the stock exchanges in India
– LTI acquired Cuelogic Technologies, a Digital Engineering and Outsourced Product Development company
– LTI won multiple accolades at the Institutional Investor 2021 Rest of Asia ex-Mainland China Executive Team rankings. LTI has been ranked amongst the top 3 across all sell-side categories in the Technology/IT Services & Software space: #2 Best CEO, #3 Best CFO, #3 Best ESG, #2 Best IR Program and #1 Best IR Professional. It was also recognized in the ‘Most-Honored’ Companies Asia List 2021
– LTI has been recognized as the Global Innovation Partner of the Year by Snowflake, the Data Cloud Company
– LTI Syncordis has been recognized as Temenos Service Partner of the Year