Larsen & Toubro Infotech - Top-Class Q3 Performance, Says IDBI Capital
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IDBI Capital Report
Larsen & Toubro Infotech Ltd.’s Q3 FY21 revenue growth of 5.3% QoQ in constant currency was slightly higher than our forecast.
Ebit margin improvement of 76 basis points QoQ to 20.6%, at a new high, was a beat. Similarly, earning per share of Rs 29.7, up 13.7%/ up 36.9% QoQ/YoY was a beat to our forecast.
The company has secured two large deals with net-new total contract value of $278 million plus. It has added one more Fortune 500 client taking the total to 69.
The company confirmed that the deal-pipeline remains strong.
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