[July 28, 2016] |
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L&T Infotech Posts Strong 35% YoY Growth in PAT; USD Revenue Growth at 11% YoY and 0.6% QoQ
L&T Infotech (BSE code: 540005) (NSE: LTI), (LTI), a global IT services
and solutions provider, announced its Q1 FY17 results today.
In US Dollars:
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Revenue at USD 231.1 million; growth of 0.6% QoQ and 10.8%
YoY
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Constant Currency Revenue growth of (0.3%) QoQ and 12.1%
YoY
In Indian Rupees:
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Revenue at Rs 15,550 million; growth at (0.2%) QoQ and 16.6%
YoY
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Net Income at Rs 2,358 million; Net Income growth at 3.3%
QoQ and 35% YoY
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"I am very pleased to report a solid quarter of strong
execution, resulting in increased profitability. With over 4%
sequential growth in services revenue and close to 22% of our
projects in Digital technologies, we have seen growth across
verticals. During last year, we have embarked on a journey to
build a next generation IT services and solutions company, focused
on solving the challenges of physical and digital convergence. We
are investing in building differentiated offerings, competencies,
training and reskilling that are aligned to client demand and
spends. Our strategic intent is to build significant strength in
five areas of growth - Digital, Analytics, IIoT, Cloud Apps and
Automation.
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I also take this opportunity to thank all our investors who
have reposed their faith in us during our recent IPO. Building
shareholder value is an important goal for us."
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- Sanjay Jalona, Chief Executive Officer & Managing
Director
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Key Deal Wins in Q1 FY17
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Awarded Project Insight by the Central Board of Direct Taxes (CBDT) to
provide comprehensive big data, analytics and surveillance solution
across India. This program is one of the largest digital
transformation initiatives in the country. As the primary partner for
this prestigious outcome-based program, LTI will develop a digital
platform to enable fair and judicious tax administration
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A multi-year contract with Elkjøp Nordic AS to provide end-to-end
Infrastructure Management and Datacenter services. Under this
partnership, LTI will transform datacenter capabilities of Elkjøp by
migrating its current environment to an Infrastructure-as-a-Service
(IaaS) model
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A US-based High-tech company chose LTI as a strategic partner for
their major global MES roll-out
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A US-based Property & Casualty software provider chose LTI to provide
end-to-end QA services for all its product lines in an output based
managed services model
Client Testimonial
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Michele Cortinovis, MEA Regional Applications, LafargeHolcim - "L&T
Infotech with its business and domain knowledge is a thought partner
for LafargeHolcim in our digital journey to optimize operations and
improve safety."
Other Business Highlights
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LTI & GE Digital announced a Global Strategic Partnership to develop
Digital Industrial Solutions
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LTI joined the Pivotal Ready Partner Program from Pivotal Labs in this
quarter
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Launched Facebook (News - Alert) at Work, becoming the first IT services and
solutions company to adopt the new collaboration platform. It is
bringing our global teams closer, enabling a culture change, and
fostering innovation across the organization
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Set up a Digital Lab at our new office in Paris to facilitate
co-innovation and co-creation with customers
Awards and Recognitions:
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Annual Report for the year ending March 2016 was adjudged a Gold
Winner by the League of American Communications (News - Alert) Professionals (LACP)
in the category of IT Services companies with up to $1 Bn in revenue
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LTI named as a 'Major Player' in IDC's MarketScape: Canada Mobile
Application Testing Services 2016 Vendor Assessment
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LTI ranked as 'Major Contender' & 'Star Performer' in Everest Group's
Testing PEAK Matrix 2016
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LTI has featured as an 'Aspirant' in Everest Group's SaaS (News - Alert)
Implementation Service Providers' Assessment PEAK Matrix™ 2016
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LTI mentioned in Gartner's 'Vendors to Watch' for Application Testing
Services
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LTI mentioned in Gartner's (News - Alert) Market Guide for BI & Analytics, APJ
For more details login to: www.lntinfotech.com/Investors/Pages/Overview.aspx
About L&T Infotech
L&T Infotech, a subsidiary of $16 Bn Larsen & Toubro group, is a global
IT services and solutions provider with presence in 23 countries. We
solve complex business challenges at the convergence of digital and
physical with our real-world expertise and client centricity. We enable
our clients to build innovative business models, enhance operational
efficiencies and create captivating customer experiences.
We provide a comprehensive portfolio of solutions and services for
various sectors like Banking & Financial Services, Insurance; Consumer
Products, Media & Entertainment, Technology, Oil & Gas and
Manufacturing. Our comprehensive services include Digital, Analytics,
Automation, IIoT, ERP, Testing, and Infrastructure Management.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160728006291/en/
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