LTI constant currency revenues grow 21.6% YoY; Net Profits up 23.2% YoY
October 15 2022 - 09:44AM
Business Wire
Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a
global technology consulting and digital solutions company,
announced its Q2 FY23 results today.
In US Dollars:
- Revenue at USD 601.0 million; growth of 3.6% QoQ
and 18.1% YoY
- Constant Currency Revenue growth of 4.6% QoQ and
21.6% YoY
In Indian Rupees:
- Revenue at INR 48,367 million; growth of 6.9% QoQ and
28.4% YoY
- Net Income at INR 6,798 million; growth of 7.2%
QoQ and 23.2% YoY
“We are happy to report 21.6% YoY revenue growth in constant
currency. We remain excited about the proactive conversations we
are having with our customers and see increased traction in the
cloud and analytics space. The strength of our pipeline and our
sustained net headcount addition will continue to fuel our growth”
- Sudhir Chaturvedi, President Sales & Executive Board
Member “We are happy to be on the last leg of the
approval process for the LTI Mindtree merger and are most likely to
combine forces by the end of this calendar year. The merged company
will bring together complimentary portfolios and a large customer
base creating extraordinary value for all stakeholders.”
-
Nachiket Deshpande, Chief Operating Officer & Executive Board
Member
Recent Deal Wins
- Selected by a leading health care system based in North America
as strategic partner for transformation programs involving cyber
security, clinical experience, enterprise data management,
governance and digital business technology
- Chosen by the provider of consultancy and IT solutions to an
international organization involved with global conflict resolution
and humanitarian assistance, to transform their digital solution
landscape
- Selected by a Global Fortune 500 multinational information
technology company to design and implement SAP and data solutions
to improve business KPIs. LTI will also provide consulting and
architectural guidance to build a technology roadmap
- Selected by a manufacturer of vertical transportation systems
to operate and transform their global JD Edwards solution
- A leading provider and manufacturer of heating and cooling
solutions and equipment has chosen LTI as its partner for one of
its largest and most complex ERP transformation initiatives at one
of its plant locations
- Selected by the newly formed division of a leading property and
casualty insurer to implement Duck Creek solutions for their
producer, policy and billing functions and to ensure data analytics
and insights
- Chosen by a leading petrochemical company for a managed
services deal involving outsourcing of support operations for their
enterprise applications by streamlining processes and building
efficiencies through transformation initiatives
- Selected by a global bank for a digital testing deal to support
its digital transformation initiatives
- Selected by a Global Fortune 500 company and a world-wide
leader in beauty and cosmetics to deliver digital integration of
existing applications with their new core S/4 solution
- Selected by a leading media & entertainment major to
implement a new buying & invoicing system and enable related
procurement processes and solutions to integrate with existing SAP
applications
- A refinery and petrochemical company has selected LTI for an
end to end outsourcing and managed services deal resulting in
improved efficiency, lower costs, better customer experience and
compliance with National Cyber Authority requirements
Analyst Recognitions
- LTI Positioned as a Major Contender and Star Performer in
Everest Group's SI Capabilities on AWS PEAK Matrix Assessment
2022
- LTI named as a ‘Leader’ in ISG Provider Lens™ Enterprise
Service Management Service & Solutions 2022 quadrant report
(ESM Consulting Services quadrant for US)
- LTI recognized as an Honorable Mention in the 2022 Gartner®
Magic Quadrant™ for Public Cloud IT Transformation Services
- LTI Positioned as a Major Contender and Star Performer in
Everest Group's SI Capabilities on Azure PEAK Matrix Assessment
2022
- Fosfor Aspect recognized in Forrester Report : Ten Lessons From
Intelligent Document Extraction And Processing Use Cases
*Gartner, “Magic Quadrant for Public Cloud IT Transformation
Services”, July 20, 2022. GARTNER and MAGIC QUADRANT are registered
trademarks and service marks of Gartner, Inc. and/or its affiliates
in the U.S. and internationally and is used herein with permission.
All rights reserved. GARTNER is a registered trademark and service
mark of Gartner, Inc. and/or its affiliates in the U.S. and
internationally and is used herein with permission. All rights
reserved. Gartner does not endorse any vendor, product or service
depicted in its research publications, and does not advise
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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
Awards & Other Business
Highlights
- LTI has been certified as a water-positive company based on a
third-party audit
- LTI Wins Golden Peacock Award for Risk Management 2022 in the
IT services and consulting category
- LTI is a Great Place to Work Certified in Poland
About LTI
LTI (NSE: LTI) is a global technology consulting and digital
solutions Company helping 500 clients succeed in a converging
world. With operations in 33 countries, we go the extra mile for
our clients and accelerate their digital transformation journeys.
Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our
unique heritage gives us unrivalled real-world expertise to solve
the most complex challenges of enterprises across all industries.
Each day, our team of more than 50,000 LTItes enable our clients to
improve the effectiveness of their business and technology
operations and deliver value to their customers, employees and
shareholders. Find more at http://www.Lntinfotech.com or follow us
at @LTI_Global.
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version on businesswire.com: https://www.businesswire.com/news/home/20221015005010/en/
Media Relations: Shambhavi Revandkar, PR & Media Relations –
India Tel: +91-22-6776 8625 Email:
shambhavi.revandkar@lntinfotech.com
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