L&T Infotech share jumps post Q3 results

Larsen & Toubro Infotech (LTI) today announced its third-quarter result of the fiscal year 2019-20. The company’s consolidated revenue from operation went up by 9 per cent on a QoQ basis to Rs 2,811.1 crore.

Revenue from banking, financial services and insurance segment grew by nearly 8 per cent QoQ to Rs 1,278.6 while the manufacturing segment recorded 18 per cent QoQ growth. High-tech, media & entertainment and CPG, retail, pharma and other segment reported 11 per cent and 8 per cent QoQ growth. Revenue from energy and utilities remained flat.

Revenue from digital grew by nearly 10.4 per cent QoQ and accounted for almost 37 per cent of this quarter’s revenue.

EBITDA during the quarter improved to Rs 527.7 crore from Rs 465.6 crore in Q2FY20, representing nearly 13 per cent increase, while the EBITDA margin for the period improved by 70 bps QoQ to 18.8 per cent.  

Profit after Tax (PAT) grew by 5 per cent QoQ to Rs 376.7 crore. This was due to lower other income of Rs 64.2 crore in the quarter as against Rs 93.7 crore in the preceding quarter.

Utilisation level (including trainee) in the quarter improved to 82.1 per cent from 78.9 per cent in the preceding quarter and the attrition level dipped to 16.5 per cent from 18.4 per cent in the preceding quarter. Besides, the company has completed the acquisition of 100 per cent shareholding of Powerupcloud and it is now a wholly-owned subsidiary of LTI.

With this good set of numbers, the stock of LTI responded positively. The stock at 12.34 pm was trading at Rs 1927.3, up by nearly 2.6 per cent from the previous close.