BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
L&T Infotech Ltd.’s Q3 FY21 U.S. dollar revenue growth of 5.3% QoQ constant currency (our estimate 4.0% QoQ CC) was broad-based, barring Insurance (down 0.6% QoQ) and energy and utilities (0.1% QoQ).
The Q3 Ebit margin expansion of only 70 basis points QoQ (to 20.6%) – despite high improvement in utilisation (up 220 bps QoQ) and the offshore mix (up 100 bps QoQ) – was due to pass-through business and employee additions (1,500 plus).
During the quarter, the company reported the highest ever total contract of large deal wins of $278 million – inclusive of the earlier announced $204 million win with Injazat.
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