L&T Infotech Will Maintain 14-15% Profit Margin, Says CEO
L&T Infotech Ltd. will maintain its profit margin between 14-15 percent for the current financial year, the company’s Managing Director and Chief Executive Officer Sanjay Jalona said.
The software services arm of Larsen & Toubro Ltd.’s margin came in at 14.3 percent for the June quarter, according to its financial statement. It had reported a 16 percent profit margin for the previous year.
The company’s net profit for the three month period also declined 6 percent quarter-on-quarter to Rs 355.7 crore.
Jalona attributed the decline in margin to increased visa costs, higher sales and marketing investments. “We simply give one guidance—that we’ll keep the net income [margin] at 14-15 percent,” he told BloombergQuint in an interview. While the company is facing some macro issues, he said there are enough opportunities in the market.
Watch the full interaction here: