L&T Infotech Posts Strong 3.7% QoQ Growth in USD revenue; driven by Digital services
Declares interim dividend of Rs 6.85 per share
L&T Infotech (BSE code: 540005, NSE: LTI), a global IT services and
solutions provider, announced its Q2 FY17 results today.
In US Dollars:
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Revenue at USD 239.7 million; growth of 3.7% QoQ and 7.0%
YoY
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Constant Currency Revenue growth of 3.6% QoQ and 7.2%
YoY
In Indian Rupees:
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Revenue at Rs 16,020 million; growth at 3.0% QoQ and 9.1% YoY
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Net Income at Rs 2,326 million; Net Income growth at (1.3)%
QoQ and 11.3% YoY
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Net Income Margin at 14.3%, down 58bps QoQ and up 52bps YoY
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"I am happy to report a strong quarter-on-quarter growth of
3.7% in the top line. This solid performance is result of our
investments in new service lines, partnerships and building a
robust sales and marketing engine. We announced the acquisition of
AugmentIQ in big data and analytics space last month, which
positions us to enable accelerated data monetization for clients
across verticals. Our client-centric approach has helped us win
critical engagements in five growth areas of – Digital, Analytics,
IoT, Cloud Apps and Automation, many of them against significantly
larger and global incumbents. We will remain focused on
implementing our LTI 2.0 strategy."
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- Sanjay Jalona, Chief Executive Officer & Managing
Director
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Recent Deal Wins:
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AGF Investments Inc. Canada selected L&T Infotech Financial Services
Technologies as its primary provider for transfer agency function
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Won an applications managed services engagement with Hartford Steam
Boiler (HSB), a leading specialty insurer with 150 years of industry
leadership in equipment breakdown insurance and a subsidiary of Munich
Re
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Multi-year, application & infrastructure outsourcing engagement with a
large crude oil refinery company in Saudi Arabia
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Multi-year, multi-service engagement with one of America’s largest
corporations dealing in automotive interiors
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A Global Fortune 100 Bank holding company selected us as a vendor for
KYC and regulatory reporting
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One of the world’s largest networking companies selected us for
migrating their Big Data platform and providing Oracle Business
Intelligence services
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Awarded multi-year contract by one of the world’s largest
semiconductor companies
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Started working with a global life sciences company in the data
analytics space
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Selected by a leading Europe-based global media company for testing
and assurance services
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A US based Media & Entertainment giant selected LTI for Oracle Cloud
based engagement
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A large investment banking and securities trading firm selected us as
a partner for risk and compliance area
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A US based construction giant selected us as the partner for
end-to-end ServiceNow implementation
Client Testimonial:
LTI is partnering with Terex Corporation for Salesforce based CRM
transformation including expansion of Salesforce footprint across
business units and complexity reduction through instance consolidation.
Stefan Meiser, Director, Global Web Services, Terex Corporation -
“LTI’s deep domain knowledge and expertise in implementing Salesforce
has helped us design leaner, more responsive customer management
channels for both sales and service.”
Other Business Highlights
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LTI expanded its leadership team with induction of Sudhir Chaturvedi
as President-Sales
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LTI announced a strategic partnership with Workplace by Facebook, an
enterprise collaboration platform that redefines internal
communications and changes the way work is done within an enterprise
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LTI announced solutions based on Oracle IoT Cloud Service to build and
deliver innovative solutions for manufacturing, utilities and
construction industries
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LTI and WorkFusion became Strategic Consulting Partners for
Intelligent Automation
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LTI announced a strategic alliance with Pegasystems to deliver
advanced Business Process Management & Business Process Automation
solutions
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LTI and Coupa formed Strategic Partnership to provide Cloud-based
Spend Management solutions
Awards and Recognitions:
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Named as a “Major Player” in IDC MarketScape: Worldwide Oil and Gas
Professional Services 2016 Vendor Assessment Doc #US40842116, Aug 2016
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LTI cited as a "Contender" in The Forrester Wave™: Services Providers
for Next-Generation Oracle Application Projects, Q3 2016
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Mentioned in “Representative List: IoT Service Provider Summary,”
“Representative Provider IoT Practice Summary,” and “Representative
Provider Solutions/Business Outcome Focus” in Gartner’s report on
Market Guide for IoT Service Providers, 2016*
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Named as a "Major Player" in IDC MarketScape: Worldwide Life Science
Sales and Marketing Digital Transformation 2016 Vendor Assessment Doc
# US40510716, July 2016
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Positioned as a ‘Leader’ in the NelsonHall Software Testing NEAT in
the Overall Category
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Positioned as a 'Major Contender' in Everest Group’s Digital Services
PEAK MatrixTM Assessment, 2016
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Positioned in the leadership zone in Zinnov Zones 2016, IoT Technology
Services Report
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Featured in the HfS Blueprint Grid on Emerging Blockchain Services
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Featured as a “Major Contender” in Everest Group’s Global Banking &
Capital Markets AO PEAK MatrixTM 2016
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Listed as one of the Consulting and SI Partners for Cloud Service in
the Gartner’s Market Guide for IoT Platforms, 2016*
*Disclaimer: Gartner does not endorse any vendor, product or service
depicted in its research publications, and does not advise technology
users to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions of
Gartner's research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About L&T Infotech
L&T Infotech, a subsidiary of $16 Bn Larsen & Toubro group, is a global
IT services and solutions provider with presence in 23 countries. We
solve complex business challenges at the convergence of digital and
physical with our real-world expertise and client centricity. We enable
our clients to build innovative business models, enhance operational
efficiencies and create captivating customer experiences.
We provide a comprehensive portfolio of solutions and services for
various sectors like Banking & Financial Services, Insurance; Consumer
Products, Media & Entertainment, Technology, Oil & Gas and
Manufacturing. Our comprehensive services include Digital, Analytics,
Automation, IIoT, ERP, Testing, and Infrastructure Management.
Connect with LTI:
View source version on businesswire.com: http://www.businesswire.com/news/home/20161109005658/en/
Copyright Business Wire 2016
Source: Business Wire
(November 9, 2016 - 8:55 AM EST)
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