LTI reports PAT of Rs 634 crore in Q1 FY23

Larsen & Toubro Infotech (LTI) recorded 0.5% fall in consolidated net profit to Rs 634.4 crore on a 5.1% rise in revenue to Rs 4,522.8 crore in Q1 FY23 over Q4 FY22.

As compared with Q1 FY22, the company's net income and revenue have increased by 27.7% and 30.6%, respectively.

In dollar terms, the company's revenue in Q1 FY23 was $580.2 million, up 1.7% QoQ and up 23.4% YoY. In constant currency terms, LTI's revenue has risen by 2.9% QoQ and 26.6% YoY.

EBITDA in the first quarter was Rs 830.8 crore, down 1.9% QoQ but up 28.3% YoY EBITDA margin in Q1 FY23 was 18.4% as against 19.7% in Q4 FY22 and 18.7% in Q1 FY22.

The company said it added 29 new clients during the quarter ended 30 June 2022. The total client base currently stood at 497 active clients.

Employee benefit expenses amounted to Rs 2,872.3 crore, up 10.2% QoQ and up 30.1% YoY.

Total Headcount in Q1 FY23 was 48,766, up 4.5% QoQ and up 27.3% YoY. The firm's attrition rate at 23.8% in Q1 FY23, was slightly lower as compared to 24% in Q4 FY22 but was sharply higher in comparison to 15.2% in Q1 FY22.

Sudhir Chaturvedi, president sales & executive board member, said: 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$ 79 million.

Nachiket Deshpande, chief operating officer & executive board member, stated: 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.

Larsen & Toubro Infotech is a global technology consulting and digital solutions company, having operations in 33 countries.

The scrip declined 3.53% to end at Rs 3873.65 on the BSE today.

Powered by Capital Market - Live News