L&T Infotech Posts Strong 35% YoY Growth in PAT; USD Revenue Growth at 11% YoY and 0.6% QoQ

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Mumbai, Maharashtra, India

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:

Revenue at USD 231.1 million; growth of 0.6% QoQ and 10.8% YoY
Constant Currency Revenue growth of (0.3%) QoQ and 12.1% YoY

In Indian Rupees:

Revenue at Rs 15,550 million; growth at (0.2%) QoQ and 16.6% YoY
Net Income at Rs 2,358 million; Net Income growth at 3.3% QoQ and 35% YoY

“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.

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.”
– Sanjay Jalona, Chief Executive Officer & Managing Director

Key Deal Wins in Q1 FY17

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
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
A US-based High-tech company chose LTI as a strategic partner for their major global MES roll-out
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

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

LTI & GE Digital announced a Global Strategic Partnership to develop Digital Industrial Solutions
LTI joined the Pivotal Ready Partner Program from Pivotal Labs in this quarter
Launched Facebook 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
Set up a Digital Lab at our new office in Paris to facilitate co-innovation and co-creation with customers

Awards and Recognitions

Annual Report for the year ending March 2016 was adjudged a Gold Winner by the League of Americans Communications Professionals (LACP) in the category of IT Services companies with up to $1 Bn in revenue
LTI named as a ‘Major Player’ in IDC’s MarketScape: Canada Mobile Application Testing Services 2016 Vendor Assessment
LTI ranked as ‘Major Contender’ & ‘Star Performer’ in Everest Group’s Testing PEAK Matrix 2016
LTI has featured as an ‘Aspirant’ in Everest Group’s SaaS Implementation Service Providers’ Assessment PEAK MatrixTM 2016
LTI mentioned in Gartner’s ‘Vendors to Watch’ for Application Testing Services
LTI mentioned in Gartner’s 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.