Business News | LTI Constant Currency Revenues Grow 9.2% QoQ and 30.1% YoY; Net profit up 18.0% year-on-year
Bombay (Maharashtra) [India], Jan 20 (ANI/PRNewswire): Larsen & Toubro Infotech (BSE 540005) (NSE:LTI), a global technology consulting and digital solutions company, today announced its third quarter fiscal 22 results. .
In US dollars:
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Revenue of $553.0 million; growth of 8.7% QoQ and 29.3% YoY
Constant Currency Revenue Growth of 9.2% QoQ and 30.1% YoY
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In Indian Rupees:
Turnover of INR 41,376 million; growth to 9.8% QoQ and 31.2% YoY
Net profit at INR 6,125 million; growth of 11.0% quarter-on-quarter and 18.0% year-on-year
“We are pleased to report 9.2% QoQ revenue growth in constant currency. This is our best quarterly sequential growth since IPO. continue to have amazing conversations with our customers on their journeys of digital transformation.”
– Sanjay Jalona, CEO and Managing Director
Recent contracts won
Selected by one of the world‘s largest veterinary care practices and a chain of pet clinics in North America, a new logo, for a managed services agreement involving cybersecurity and IT infrastructure modernization, including cloud migration to gain operational efficiencies and transform clinic management and support
Hired by a Global Fortune 500 multinational pharmaceutical company to modernize and support its data platform ensuring speed and real-time data availability, scalability for future expansion and optimized cost
Selected by a Global Fortune 500 company and a global leader in beauty and cosmetics for the implementation of its HR transformation plan. Built on Snowflake technology, the engagement aims to augment next-generation HR analytics capabilities, one-stop-shop for data, real-time access, and mobile-friendly solutions.
Hired by a Global Fortune 500 energy company to provide “data management as a service” for their underground platform ensuring efficient and transparent operations in a secure cloud-based environment
Selected by a North American utility company for the cloud transformation of data, infrastructure, security and ERP systems to create a resilient and scalable IT infrastructure
A global leader in semiconductor solutions has partnered with LTI to deploy SAP S/4HANA at one of its largest manufacturing sites to optimize business performance and improve business agility
A North American-based financial services company selected LTI to create the functionality needed to integrate, support and migrate the recordkeeping system to the Unitrax platform. This will ensure that their distribution, support and operations efforts are streamlined on a single platform and will improve time to market for new product launches.
Hired by an insurance company to set up basic systems and to design, develop and support a digital platform enabling application integration with external and internal systems
Hired by a global bank headquartered in Europe to digitally transform its payment processing functionality in 12 countries from legacy systems ensuring scalability, ability to process higher volumes, streamlining and standardization
LTI modernized the ERP platform and established a centralized and standardized e-commerce platform for a global manufacturer of critical flow control equipment and has now been selected to manage applications to improve customer experience and revenue growth.
A major Namibian bank has appointed LTI as a partner in its digital transformation journey. LTI will revamp the integration layer with microservices enabling the bank to become a cloud-ready digital leader in its chosen geographies in Africa
Selected to partner with one of the largest banks in the Middle East in their Wealth Management transformation using Temenos Wealth Management Suite ensuring best practices, efficiency, good implementation and a scalable model for future expansion
Awards and Recognition
ISG Provider Lens™: Digital Business — Solutions & Service Partners 2021
LTI positions itself as a leader in digital business consulting services – United States
LTI positions itself as a leader in digital commerce experience services – US
LTI Recognized as a Leader in Everest Group’s Temenos IT Services PEAK Matrix® 2022 Assessment
LTI Positioned as a Major Player in IDC MarketScape’s 2021 Global Managed Multicloud Service Provider Assessment
LTI ranked 5th in the 2021 HFS Top 10 Energy Services
LTI Positioned as a Leader in Everest Group Insurance Platforms IT Services PEAK Matrix Assessment 2022
LTI Recognized in Gartner Report on What Distinguishes High Performing Service Providers in the Data and Analytics Services Market, Twiggy Lo, October 28, 2021
Fosfor Lumin, AI-Based Augmented Analytics Product (formerly LTI Leni) Recognized in Forrester Report: Augmented BI Holds New Promises, But It’s Still Early Days, November 2021
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, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Other Company Highlights
LTI has partnered with Securonix and Snowflake to bolster its cybersecurity offerings and prevent sensitive data from facing growing threats as businesses migrate to the cloud
LTI Wins Top Performing Partner Award at Red Hat India
LTI (NSE: LTI) is a global technology consulting and digital solutions company that helps more than 475 clients succeed in a converging world. With operations in 33 countries, we go the extra mile for our customers and accelerate their digital transformation journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unparalleled real-world expertise to solve the most complex business challenges across all industries. Every day, our team of more than 40,000 LTItes enables our clients to improve the efficiency of their business and technology operations and deliver value to their customers, employees and shareholders. To learn more, visit http://www.Lntinfotech.com or follow us @LTI_Global.
Earnings Conference Call and Audio Webcast
January 19, 2022 (8:00 PM IST)
Please dial the number below at least 5-10 minutes before the conference time to ensure you are connected to your call in time.
Contact: Media Relations, Shambhavi Revandkar, Public Relations and Media Relations – India, tel. +91-22-6776 8625, email: [email protected]
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