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regular-article-logo Friday, 22 November 2024

Larsen & Toubro's Info income up 27.7 per cent

The net profit of the IT firm during the quarter was Rs 634.4 crore compared with Rs 496.8 crore in the corresponding quarter a year ago

A Staff Reporter Calcutta Published 15.07.22, 02:04 AM
On a sequential basis, revenue in rupee terms grew 5.1 per cent, while net income was marginally down 0.5 per cent

On a sequential basis, revenue in rupee terms grew 5.1 per cent, while net income was marginally down 0.5 per cent File picture

Larsen & Toubro Infotech (LTI) has posted a 27.7 per cent growth in net income and a 30.6 per cent growth in revenue in rupee terms during the April-June quarter of 2022-23 on the back of large signings during the quarter and a healthy deal pipeline.

The net profit of the IT firm during the quarter was Rs 634.4 crore compared with Rs 496.8 crore in the corresponding quarter a year ago.

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Revenue during the quarter was Rs 4,522.8 crore compared with Rs 3,462.5 crore in the year-ago period.

On a sequential basis, revenue in rupee terms grew 5.1 per cent, while net income was marginally down 0.5 per cent.

“We have closed the quarter with 4 large deals with a net TCV of $79 million,” said Sudhir Chaturvedi, president of sales and executive board member of LTI.

The company has a large deal pipeline of around $2 billion. The IT firm anticipates a strong short-term demand but is cautious about the spending by clients in 2023.

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