L&T Infotech stock zooms 15% post Q2 earnings
The stock was stuck at the upper circuit of 15% at Rs 6,793 compared to the previous close of Rs 5,907 on the BSE.
- Oct 19, 2021,
- Updated Oct 19, 2021 12:13 PM IST
L&T Infotech stock touched all-time high today after the subsidiary of Larsen & Toubro reported a 20.8 per cent rise in net profit for the quarter ended September.
The share was stuck at the upper circuit of 15 per cent at Rs 6,793 compared to the previous close of Rs 5,907 on the BSE. Earlier, the stock opened with a gain of 9.03 per cent at Rs 6,460.
L&T Infotech share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 120 per cent in one year and risen 82 per cent since the beginning of this year.
Total 1.02 lakh shares of the firm changed hands amounting to turnover of Rs 67.38 crore on the BSE.
Also read: L&T lowest bidder for 3 buildings of Central Vista project, says Centre
Market cap of the firm rose to Rs 1.18 lakh crore on the BSE.
The IT company logged a 20.8 per cent rise in consolidated net profit at Rs 551.7 crore for the quarter ended September against a net profit of Rs 456.8 crore in the same period a year ago.
Consolidated revenue rose 8.8 per cent to Rs 3,767 crore compared to Rs 3,462.5 crore in the June 2021 quarter. On year-on-year basis, revenue rose 25.6 per cent from Rs 2,998 crore.
Dollar revenues for the quarter came at $509 million, a rise of 8.3 per cent QOQ and 25.8 per cent YOY. Constant currency revenue rose 8.9 per cent on a QoQ basis and 25.5 per cent on a YoY basis.
"We are happy to report the strongest sequential revenue growth and best-ever Q2 of 8.9 per cent in constant currency terms. As we cross the $2 billion annual revenue run rate, we continue to remain committed to growth in the future", said Sanjay Jalona, Chief Executive Officer & Managing Director.
Revenues have grown on the back of the growth momentum of Q1FY22 which has continued in this quarter, healthy deal signings, and broad-based growth across verticals and geographies.
L&T Infotech stock touched all-time high today after the subsidiary of Larsen & Toubro reported a 20.8 per cent rise in net profit for the quarter ended September.
The share was stuck at the upper circuit of 15 per cent at Rs 6,793 compared to the previous close of Rs 5,907 on the BSE. Earlier, the stock opened with a gain of 9.03 per cent at Rs 6,460.
L&T Infotech share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 120 per cent in one year and risen 82 per cent since the beginning of this year.
Total 1.02 lakh shares of the firm changed hands amounting to turnover of Rs 67.38 crore on the BSE.
Also read: L&T lowest bidder for 3 buildings of Central Vista project, says Centre
Market cap of the firm rose to Rs 1.18 lakh crore on the BSE.
The IT company logged a 20.8 per cent rise in consolidated net profit at Rs 551.7 crore for the quarter ended September against a net profit of Rs 456.8 crore in the same period a year ago.
Consolidated revenue rose 8.8 per cent to Rs 3,767 crore compared to Rs 3,462.5 crore in the June 2021 quarter. On year-on-year basis, revenue rose 25.6 per cent from Rs 2,998 crore.
Dollar revenues for the quarter came at $509 million, a rise of 8.3 per cent QOQ and 25.8 per cent YOY. Constant currency revenue rose 8.9 per cent on a QoQ basis and 25.5 per cent on a YoY basis.
"We are happy to report the strongest sequential revenue growth and best-ever Q2 of 8.9 per cent in constant currency terms. As we cross the $2 billion annual revenue run rate, we continue to remain committed to growth in the future", said Sanjay Jalona, Chief Executive Officer & Managing Director.
Revenues have grown on the back of the growth momentum of Q1FY22 which has continued in this quarter, healthy deal signings, and broad-based growth across verticals and geographies.