*PhillipCapital India Update*
LTI 3QFY20: Strong performance, beating expectations
USD rev at $394.4mn, +13.7% yoy (+8.4% qoq) – significantly ahead of estimates of +4% qoq.
• CC growth of +8.3% qoq, +14.2% yoy – again beating expectations
• Verticals: Growth driven by BFS (+11.1% qoq) Manf (+15.4% qoq), and Pharma-Retail (+5.5% qoq) while E&U (+1.3% qoq) and Insurance (+2.4% qoq) remained muted (all in CC terms).
• Service lines: IMS (+13% qoq), Ent Soln (+5.1% qoq), ADM (+7.3% qoq) (all in CC terms).
• Geographies: US +9.6% qoq, Europe +1.8% qoq (all in CC terms).
EBIT margins at 16.2%, +70bps qoq (-290bps yoy) – inline with estimates of 15.9%.
PAT of Rs 3.8bn, +0.3% yoy, (+4.6% qoq) – inline with estimates
Utilization (incl trainees) increased 30bps qoq to 79.2%.
Attrition (LTM) decreased 70bps qoq to 17.7%
Top 5/Top 10/Top 20 clients grew by +12.1%/+11.5%/+9.5% qoq.
*For further queries/clarifications, kindly contact your Relationship Manager*
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