LTI FY20 Constant Currency Revenues Grow 14.2%; Q4 FY20 Revenues Up 4.7% QoQ, 17.4% YoY

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q4 FY20 and full year FY20 results today.

Q4 FY20, In US Dollars:

Revenue at USD 409.9 million; growth of 3.9% QoQ and 15.9% YoY
Constant Currency Revenue growth of 4.7% QoQ and 17.4% YoY

In Indian Rupees:

Revenue at Rs 30,119 million; growth at 7.1% QoQ and 21.2% YoY
Net Income at Rs 4,275 million; Net Income growth at 13.5% QoQ and 12.9% YoY

Full year FY20

In US Dollars:

Revenue at USD 1,524.7 million; growth of 13.0% YoY
Constant Currency Revenue growth of 14.2% YoY

In Indian Rupees:

Revenue at Rs 108,786 million; growth at 15.2% YoY
Net Income at Rs 15,205 million; Net Income growth at 0.3% YoY

Capital Return

Final Dividend of Rs 15.5 per share; Dividend pay-out ratio of 35.0% for the year
ROE of 29.5% for the year

“We are extremely proud of the strong work ethic of LTItes who rose to the challenge of an unparalleled global pandemic, exceeding client expectations and earning their trust.
Our resilient business model, comprehensive digital transformation capabilities and flawless execution helped us to deliver fourth consecutive year of industry leading double-digit revenue growth in FY20. We are also pleased to announce two large deals in Q4 with net-new TCV in excess of US$100 million, culminating in a record 8 large deal wins for us in FY20. 
With strong order wins, healthy revenue momentum and client centric growth strategy, we shall confront near term demand challenges and emerge stronger,” says Sanjay Jalona, Chief Executive Officer & Managing Director of Larsen & Toubro Infotech.

Recent Deal Wins

-          Multi-year multi-million large deal for complete digital transformation, enhancing productivity and quality of service of a key government ministry by implementing new microservices based applications and building a data and analytics platform     

-          A large energy retail company selected LTI for an end to end managed services deal for its IT applications and infrastructure operations

-          Standard Chartered Bank chose LTI as its partner for a strategic Temenos T24 Transact engagement

-          Leading North American bank selected LTI to transition its applications to cloud

-          Global semiconductor major partnered with LTI to digitize its core by re-designing and implementing its critical processes on SAP S/4 HANA

-          A leading property and casualty insurance company chose LTI as its business transformation partner to implement Duck Creek OnDemand Cloud Platform

-          Global media broadcasting giant selected LTI to redesign and modernize its programming and scheduling applications to meet evolving business requirements

-          A leading financial services group chose LTI for AMS engagement

Awards and Recognitions

-          Recognized by the 1Q20 Global ISG Index™ as one of The Breakthrough 15 in Global, Americas, EMEA Sourcing Standouts

-          LTI recognized as a Leader in ISG Provider Lens™: SIAM/ITSM 2020 Study for US Market

-          LTI featured in Constellation ShortList: Innovation Services and Engineering for Q1 2020

-          LTI recognized in Forrester's Now Tech: IoT Consultancies In Asia Pacific, Q1 2020

-          LTI named in Honorable Mentions in the 2020 Gartner Magic Quadrant for Data and Analytics Service Providers

* Magic Quadrant for Data and Analytics Service, Worldwide, Jorgen Heizenberg et al., 10 February 2020. 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

-          The Board of Directors at its meeting held on May 19th, 2020 have declared a final dividend of Rs. 15.5 per equity share (Face value of Re. 1) for the financial year 2019-20. Total dividend for FY20 is Rs. 28 per equity share, including the interim dividend of Rs. 12.5 per equity share declared in October 2019.

-          Won the SAP Pinnacle Award for Industry Innovation Partner of the Year 2020

-          LTI has been elevated to a ‘GOLD’ partner status with Pega

-          LTI is now a 'Premier' System Integration Partner with MuleSoft

-          LTI has been featured among top 10 companies investing in EdTech CSR projects by CSRBOX

-          The company’s long-term rating has been upgraded by CRISIL to AAA/Stable from AA+/Positive during the year

-          National Stock Exchange of India Ltd. (NSE) has included LTI in its Nifty Next 50 Index

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 420 clients succeed in a converging world. With operations in 32 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivaled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 30,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global.