Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEarnings

LTI Q1 net profit slips 1.5% to Rs 355.8 cr

The company had registered a net profit of Rs 361.3 crore in the same period a year ago, LTI said in a statement.

July 22, 2019 / 06:58 PM IST

IT company L&T Infotech (LTI) July 18 reported a 1.5 per cent decline in consolidated net profit to Rs 355.8 crore for the quarter ended June 2019.

The company had registered a net profit of Rs 361.3 crore in the same period a year ago, LTI said in a statement.

However, its revenue was up 15.3 per cent to Rs 2,484.9 crore in the reported quarter from Rs 2,155.7 crore in the year-ago period, it added.

"We delivered 12.9 per cent year-on-year revenue growth in constant currency driven by Digital Services that now make up 39 per cent of our revenues. We also won a large deal by opening a new client logo in insurance vertical with net-new total contract value (TCV) of USD 44 million," LTI CEO and Managing Director Sanjay Jalona said.

The company's revenue in US dollar terms grew 11.5 per cent year-on-year to USD 356.5 million.

Its total headcount stood at 29,347 people at the end of June 2019 quarter, while attrition was at 18.3 per cent.

PTI
first published: Jul 18, 2019 07:18 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347