L&T Infotech Q1 results: Net profit rises 28% to Rs 634 cr, revenue up 30%

Larsen & Toubro Infotech, a technology consulting and digital solutions company, on Thursday reported a rise of 27.8 per cent year-on-year (YoY) in its consolidated net profit at Rs 634 crore for the quarter ending 30 June, 2022. The company had posted a profit of Rs 496.3 crore in the year-ago period.

Revenue from operations in the said quarter rose 30.5 per cent to Rs 4,522.8 crore from Rs 3,462.5 crore in the same quarter last fiscal.

Commenting on the quarterly results, - Sudhir Chaturvedi, President Sales & Executive Board Member, said “We are pleased to report 26.6 per cent YoY revenue growth in constant currency. We added 4 Global Fortune 500 logos to our client list in Q1, taking our total Global Fortune 500 customers to 77. We are also happy to announce 4 large deal wins during the quarter with net new TCV of US$ 79mn.”

"Our healthy pipeline will ensure that we maintain our large deal momentum. Our sustained net headcount addition reflects our confidence and continued focus to deliver strong growth in FY23," said Nachiket Deshpande, Chief Operating Officer & Executive Board Member.

Shares of Larsen & Toubro Infotech closed 3.53 per cent lower at Rs 3,873.65 apiece on BSE today.