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LTI revenues grow 5.1% QoQ and 20.4% YoY; Net profit up by 19.3% YoY, Special dividend of INR 10 / share on 5 years of listing

LTI and Mindtree announce merger to create India’s next large-scale IT services player
LTI and Mindtree announce merger to create India’s next large-scale IT services player

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY22 results today.

 In US Dollars:

  • Revenue at USD 470.2 million; growth of 5.1% QoQ and 20.4% YoY
  • Constant Currency Revenue growth of 4.8% QoQ and 17.8% YoY

 In Indian Rupees:

  • Revenue at INR 34,625 million; growth at 5.9% QoQ and 17.4% YoY
  • Net Income at INR 4,968 million; decrease of 9.0% QoQ and growth of 19.3% YoY

Capital Return:

Special dividend of INR 10 per share to commemorate the completion of 5 years of listing on the stock exchanges in India

“We are pleased to report our best ever Q1 sequential growth of 5.1% driven by holistic growth across our verticals, service lines, client pyramid and geographies. Our healthy pipeline and continued strong demand makes us confident of our future growth.

Q1 also marks the 5-year anniversary of LTI’s IPO and our Board has declared a special dividend to commemorate this occasion. Over these past 5 years, we have delivered USD revenue CAGR of 13.5% and more than doubled our net profit. I am proud of how we continue to innovate and deliver year on year industry leading growth. I am also excited as we strengthen our digital engineering capabilities welcoming Cuelogic Technologies to the LTI family.”

 – Sanjay Jalona, Chief Executive Officer & Managing Director

 Recent Deal Wins

–          A Global Fortune 500 energy distribution company has selected LTI for a managed security services deal including L1 SOC and end-to-end support for all security applications. As part of this engagement, LTI will enable a threat intelligence led security operation to reduce business risk

–          A key Middle East player in the renewables and oil & gas energy market has selected LTI, through its strategic partnership with a regional digital transformation leader for migration to cloud, modernization and management of its entire IT landscape

–          LTI has been selected for an end-to-end IT managed services deal including set up of processes and tools, security operations and monitoring solutions for the divested unit of a global manufacturer and supplier of specialty chemicals based in North America

–          The subsidiary of one of the largest banks in Asia has chosen to partner with LTI for the implementation, integration and maintenance support of their private banking platform using Temenos Wealth

–          A global semiconductor major based in Europe partnered with LTI to re-design and harmonize its business processes with SAP S/4HANA to make them more scalable, efficient, agile, and flexible

–          A multinational company providing energy related solutions based in North America has selected LTI to transform its front and middle office processes using SAP S/4HANA enabling simplification of operations, improved customer experience and cost optimization

–          A North American property and casualty insurance company has selected LTI for network support and data base management to ensure seamless operations support round the clock. This will help accelerate their cloud journey

–          An insurance broker based in North America has selected LTI to transform and digitize its business operations in one of its key growth segments. This would include its prospecting, sales, and servicing processes to make them modern, offer more choice to customers, scale the business efficiently and drive business decisions through data and analytics

–          A North American provider of integrated services, delivery and manufacturing solutions for pharmaceuticals, biologics and consumer health product companies, has selected LTI to support its applications and ERP systems to ensure operational efficiency and cost-effective solutions

–          A world-renowned stock market index has selected LTI as a cloud infrastructure and engineering partner to support its multi-year cloud adoption journey

Awards and Recognitions

–          LTI recognized in Gartner 2021 Magic Quadrant for Oracle Cloud Application Services, Worldwide

–          LTI Leni recognized by Forrester Research as a sample anomaly detection vendor in The Forrester Tech Tide™: Customer Insights Methods, Q2 2021

–          LTI Recognized as a Leader in the ISG Provider Lens™ ServiceNow Ecosystem Partners Report, US 2021

–          LTI Leni recognized as a Representative Vendor in Gartner Market Guide for Augmented Analytics Tools, Austin Kronz et al.,28 June 2021

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