L&T Infotech Profit Rises 3.3% in First Quarter
L&T Infotech’s profit went up 3.3 % in the first quarter after its listing.
L&T Infotech Ltd. saw a muted 3.3 percent increase in net profit to Rs 235.8 crore, in the first quarter of financial year 2016-17 on a quarter-on-quarter basis. Net profit stood at Rs 228.3 crore in the previous quarter, according to the company’s filing on the Bombay Stock Exchange.
Revenue fell marginally by 0.2 percent to Rs 1,555 crore in the April- June quarter from Rs 1,557.9 crore in the last quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 7 percent to Rs 304.3 crore from Rs 284.4 crore on a quarter-on-quarter basis. EBITDA margin also increased to 19.6 percent from 18.3 percent over the quarter.
“With over 4 percent sequential growth in services revenue and close to 22 percent of our projects in Digital technologies, we have seen growth across verticals,” Sanjay Jalona, Chief Executive Officer & Managing Director, L&T Infotech said.