L&T Infotech reports stellar Q4FY20 numbers

Larsen & Toubro Infotech (LTI) reported stellar performance amid a challenging time.

Its consolidated revenue for the quarter came in at Rs 3,011.9 crore, registering 7.14 per cent QoQ increase. This was primarily driven by growth across all the verticals. BFSI and Manufacturing segment, which are the top two major revenue contributors, registered an approximate growth of five per cent and 10 per cent, respectively, from its preceding quarter.

EBITDA for the quarter rose by 9.53 per cent QoQ to Rs 578 crore with a corresponding margin expansion of 42 bps while, EBITDA margin for the quarter stood at 19.19 per cent. This margin expansion was aided by lower employee benefit expenses in the proportion to revenue.

PAT for the quarter came in at Rs 427.5 crore, with QoQ increase of 13.5 per cent.

The board of directors has recommended a final dividend of Rs 15.50 per equity share for the financial year 2019-20.

Attrition during the quarter lowered to 16.5 per cent from 17.7 per cent of the preceding quarter. While the total utilisation level remained largely flat at 79.3 per cent.

As a result of this positive development, the stock of LTI surged nearly eight per cent on the bourses to touch an intraday high of Rs 1,798 apiece.