Larsen & Toubro Infotech today reported a net profit of Rs 637 crore for the January-March quarter, up 4.1% sequentially and 16.8% from the year-ago period. The bottomline was largely in line with consensus estimate.
The revenue of the L&T group company grew 4.0% sequentially to Rs 4,301.6 crore, and up 31.6% from the same quarter in the previous year.
For the financial year ended March, revenue grew 26.7% to Rs 15,668 crore, while net profit grew 18.6% to Rs 2,298 crore.
The company’s operating margin during January-March narrowed to 19.7% versus 21.9% a year earlier and 20.1% in the previous quarter.
The company won four large deals during the quarter with net new total contract value of $80 million.
The company registered a foreign exchange gain of Rs 94.5 crore during the quarter, up from Rs 71.5 crore in October-December and Rs 12.8 crore in the year-ago period.
Other key highlights
1) The company announced final dividend of Rs 30 per share.
2) Dividend pay-out ratio was 41.9% for the fiscal year 2021-22.
3) Attrition percentage rose to 24% in Jan-Mar from 22.5% in the preceding quarter and 12.3% a year ago.
4) In US dollar terms, Q4 revenue was $570.4 million, a growth of 3.1% quarter on quarter and 27.5% year on year.
5) In constant currency terms, revenue grew 3.6% sequentially and 29.0% on year in Q4.
6) The Banking and Financial Services (BFS) segment continued to be the mainstay of the company, with 32.7% share in the total revenue pie in January-March.
7) North America remained the key sales geography with 65.6% of the revenue from the region.
8) The company had 486 active clients at the end of March, up from 476 as of December end and 427 a year ago.
9) A total of 25 new clients were added during the quarter.
Sanjay Jalona, Chief Executive Officer and Managing Director, said the company crossed the $2 billion revenue milestone with record growth of 26% in FY22, its strongest since listing.
“Our growth has been broad-based across verticals, service lines, client buckets and geographies. The year has seen the highest new client openings and net headcount additions,” he said.
“In Q4 FY22, we won four large deals with net new TCV of over $80 million. Our deal pipeline continues to be robust, and we remain confident of maintaining industry leading growth in the coming year as well,” he added.