Larsen & Toubro Infotech USD Revenue Growth Up 11.5% YoY; Digital Revenues at 39%

Larsen & Toubro Infotech, a global technology consulting and digital solutions company, announced its Q1 FY20 results today.

Q1 FY20

In US Dollars:

§  Revenue at USD 356.5 million; growth of 0.8% QoQ and 11.5% YoY
§  Constant Currency Revenue growth of 1.0% QoQ and 12.9% YoY

In Indian Rupees:

Revenue at Rs 24,849 million; growth was flat QoQ and 15.3% YoY
Net Income at Rs 3,557 million; growth of (6.1%) QoQ and (1.5%) YoY

“We delivered 12.9% YoY revenue growth in constant currency driven by Digital Services that now make up 39% of our revenues. We also won a large deal by opening a new client logo in Insurance vertical with net-new TCV of US$44m.

We are also pleased to welcome Lymbyc to LTI family. Lymbyc is a specialist AI, machine learning, and advanced analytics company. The acquisition further strengthens LTI’s Mosaic platform and our fast-growing digital and analytics offerings.”

- Sanjay Jalona, Chief Executive Officer & Managing Director, LTI

Recent Deal Wins

-          A US based insurance company, a new logo has selected LTI for a multi-year, multi-million dollar managed services deal for its IT infrastructure and IT security operations
-          Selected as the strategic partner by Deutsche Telekom for their strategic Microsoft Cloud Acceleration Centre initiative in Central and Eastern Europe
-          A world leader in medical products chose LTI for a managed services deal covering 100+ applications across its global operations to make its IT landscape lean, cloud first and digital ready
-          Selected as the exclusive strategic partner by a leading investment management Company for its AI and automation driven digital transformation journey
-          A leading Japanese electrical and software company selected LTI for SAP Application Management Services engagement
-          A global bank selected LTI for cloud based digital transformation of its wealth management applications
-          Selected by a leading security services firm for implementing financial analytics and reporting tool

Client Testimonial

 “Deutsche Telekom has selected LTI as their trusted partner for the joint Microsoft Cloud initiative in Central Eastern Europe. We are convinced that LTI’s experience with cloud migration will further empower the digital transformation in the region. We are looking forward to pave the customers’ digital journey together with LTI.”

-  Ralf Nejedl, Senior Vice President B2B Growth Europe, Deutsche Telekom AG

“LTI has been a strategic partner to Velliv and continuously strives to deliver business benefits. In the past 4 years, LTI has been instrumental in strategic transformation of our core business applications. LTI has also been proactive in setting up the critical test automation processes across Velliv application domains.”

- Jakob Andersen, CIO, Velliv

Awards and Recognitions

-          LTI ranked as a Leader in AI Based Automation Capability in Software Testing Services: AI and Digital NextGen Testing NelsonHall NEAT report 2019
-          LTI’s Digital Transformative Agribusiness case study recognized in ISG’s Global Digital Excellence: 25 Winning Partnerships Book
-          LTI ranked number 5 in HFS Top 10 Energy Service Providers 2019
-          LTI named in Honorable Mentions in the Gartner, Magic Quadrant for Data and Analytics Service Providers, Worldwide, 2019

*Gartner, Magic Quadrant for Data and Analytics Service Providers, Worldwide, 2019, Jorgen Heizenberg et al., 12 February 2019 Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact.

Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Other Business Highlights

-          LTI signed a definitive agreement to acquire Lymbyc, a specialist AI, machine learning, and advanced analytics company. The acquisition further strengthens LTI’s fast-growing digital and analytics offerings. 
-          Guidewire Software announced LTI as new consulting alliance partner
-          LTI is now a constituent of the FTSE4Good Index Series following the June 2019 index review.

*Larsen and Toubro Infotech satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.