Larsen & Toubro Infotech (LTI) recorded a 19.3% yoy growth in net profit to Rs496.8cr for the quarter ending June 2021 (Q1FY22). However, the PAT was down by 9% sequentially. Revenue stood at Rs3,462.5cr in the latest quarter rising by 17.4% yoy and 5.9% qoq.
In terms of the dollar, constant currency revenue growth was at 17.8% yoy and 4.8% qoq. Revenue stood at $470.2M with a growth of 20.4% yoy and 5.1% qoq.
Sanjay Jalona, Chief Executive Officer & Managing Director at LTI said, "We are pleased to report our 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."
Jalona added, "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.”
The company's board declared a Special Dividend for FY2021-22, of Rs10 per equity share of the face value of Re.1 each fully paid-up. The Special Dividend shall be paid to equity shareholders of the Company whose names appear in the Register of Members of Company or records of Depositories as beneficial owners of equity shares as of Monday, August 2, 2021, which is record date fixed for the said purpose. This will be paid within stipulated timelines as prescribed under law.
At around 1.49 PM, LTI was trading at Rs4280 per piece down by Rs137.30 per piece or 3.11% on Sensex,