Larsen and Toubro Infotech is a global technology consulting and providing digital solutions. L&T Infotech has recently registered a profit of 15.2% in its net profit at Rs 1,520.5 crore for the full financial year quarter ended March 31, 2020.
Net profit rises marginally to 0.03%. Now the company has decided to announce a bonus of Rs 15.5 per share.
For the fourth quarter March 31, 2020 (Q4 FY20), the IT company disclosed a 12.9 % increment in net profit at Rs 427.5 crore as compared to Rs 378.5 crore in the comparable period of the last fiscal. Revenue rose to 21.2 percent to Rs 3,011.9 crore in Q4 FY20, vs Rs 2,486 crore as compared to the last year.
If we talk about these terms in dollars then, L&T Infotech’s revenue stood at $409.9 million during Q4 FY20, registered a YoY growth of 15.9 percent. In continuous currency terms, earlier revenue growth was at 17.4 percent YoY.
L&T Infotech said “ “Our resilient business model, comprehensive digital transformation capabilities and flawless execution helped us to deliver a fourth consecutive year of industry-leading double-digit revenue growth in FY20. We are also pleased to announce two large deals in Q4 with net-new TCV in excess of $100 million, culminating in a record 8 large deal wins for us in FY20.”
There is positive news for the L&T employees as the L&T infotech has decided to postpone the wage hikes for FY20 and will not cut the pays of their employees. The company is also expecting pressure from the banking and insurance sector in the upcoming months and it can be assumed that it will increase the growth of the company. Currently 31,437 people are working in L&T Infotech. Also, the company’s Nomination and Remuneration Committee (NRC) of the board accepted the permit of 8,100 options to the qualified employees under the Employee Stock Option Scheme (ESOP) 2015 of the company.
While the company does not have access to travel and hospitality and also negligible existence in the retail sector and its impact will be in its energy and convenience which will increase overall 11 percent revenue.
Leading to the earning announcement, L&T Infotech price closed at 0.54 percent lower on BSE with Rs 1,776.
