Tuesday, October 19, 2021

LTI Crosses USD 2 Billion Annual Revenue Run Rate; Net Profit Up By 20.8% YoY

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q2 FY22 results today.

In US Dollars:

Revenue at USD 509.0 million; growth of 8.3% QoQ and 25.8% YoY

Constant Currency Revenue growth of 8.9% QoQ and 25.5% YoY

In Indian Rupees:

Revenue at INR 37,670 million; growth at 8.8% QoQ and 25.6% YoY

Net Income at INR 5,517 million; growth of 11.1% QoQ and 20.8% YoY

“We are happy to report the strongest sequential revenue growth and best ever Q2 of 8.9% in constant currency terms. As we cross the $ 2 billion annual revenue run rate, we continue to remain committed to growth in the future. We are witnessing strong demand and are rapidly scaling up on the supply-side with our headcount up 31% year on year,” Sanjay Jalona, Chief Executive Officer & Managing Director.

Recent Deal Wins

-          Selected by a European company providing digital marketing solutions for a global, end-to-end managed services deal spanning across the internal IT department. The scope includes business applications maintenance, development and support of cloud and data platforms, as well as   end-user services. This will cover multiple digital technologies and will ensure costs efficiency, increased service flexibility and quality, and support growth plans of the company

-          Chosen by a North American manufacturer of golf cars and utility vehicles for a global end-to-end IT managed services deal including set up of processes and tools, security operations, monitoring solutions, and application support. LTI will also be responsible for cloud migration of critical applications as part of this engagement

-          Engaged by one of India’s leading private sector banks to create a data platform on cloud spanning all core and foundational functions of the bank such as Retail, NRI, Wealth, Corporate, Risk, Finance, Operations and HR. The platform will deliver “Speed to Insights” through data & BI democratization, create an ecosystem for AI-assisted sales and services including hyper personalized customer management

-          Selected by a leading specialty vehicle manufacturing company as primary managed services partner to support applications and infrastructure landscape. This is company’s first-generation end-to-end outsourcing contract which will bring 30% savings to operational cost

-          Selected by a leading mass media company as part of a vendor consolidation exercise for database management and support to streamline operations and reduce costs

-          Selected by a global bank for solving regulatory reporting issues and improving business operations efficiency through process automation

-          Chosen by a Global Fortune 500 company and a world-wide leader in beauty and cosmetics for migration of its SAP systems to cloud

-          Engaged by a leading property and casualty insurance software and data analytics provider based in North America in the product engineering space for their Centre of Innovation to enhance customer experience and efficiency across its core products

-          Selected by a Global Fortune 500 oil exploration and production company to bring down its cost and drive operational efficiency by transforming traditional operations into an agile based service delivery

-          Engaged by a multinational professional services provider to provide level 3 delivery management and support on a key revenue generating platform

-          Chosen by a financial services provider as its partner of choice to provide support for its key operational applications to ensure operational efficiencies and reduce costs

-          Selected by the Japanese subsidiary of a utility company headquartered in Europe to migrate to SAP S/4HANA to harmonize and simplify its business processes, improve productivity and enhance user experience

Awards and Recognitions

-          LTI recognized as a representative vendor in the Gartner Market Guide for Artificial Intelligence Service Providers, Shubhangi Vashisth et al., 26 July 2021

-          LTI Recognized as a Leader in the ISG Provider Lens™ Utilities Industry – Services and Solutions – North America 2021 Report

-          LTI Positioned as a Major Contender in Everest Group's Microsoft Dynamics 365 services PEAK Matrix® Assessment 2021

-          LTI recognized in the Forrester report: Experience Design Provider Trends, 2021

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 Oct 18th, 2021 have declared an interim dividend of INR 15 per equity share (Face value of INR 1)

-          LTI has entered in a partnership with eClinicalHealth Limited to accelerate digital innovation in R&D clinical trials management process for patient centric drug development. LTI will help accelerate joint go-to-market pursuits and faster deployment for Clinpal (cloud-based patient-centric SaaS solution). The solution will make use of exponential technologies such as analytics and AI to enhance patient engagement and faster clinical studies

-          LTI is now a signatory to the Ten Principles of UN Global Compact. These principles lay down the operating guidelines for a company to meet their fundamental responsibilities in the areas of human rights, labor, environment and anti-corruption

-          LTI has been recognized as a Great Place to Work-Certified™ Company in the USA for a second consecutive year

-          LTI has been awarded the Golden Peacock National Quality Award 2021. The award recognizes LTI’s consistent endeavor to deliver excellence while maintaining optimum quality benchmarks

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 460 clients succeed in a converging world. With operations in 33 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 unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 40,000 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.

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