L&T Infotech Q2 Review - Broad-Based Growth: IDBI Capital
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IDBI Capital Report
Larsen and Toubro Infotech Ltd. witnessed broad based growth in the current quarter and was significantly higher than our estimate.
Going forward, the company is seeing healthy traction in revenues led by robust deal pipeline and client mining. In addition, the company expects to add ~5,000 freshers and ~1,000 laterals leading to healthy revenue visibility.
As a result the company expects H2 FY22 growth to be better than H1 FY22 (~23.2% YoY) and to be in leaders quadrant among mid cap companies.
In addition, the company expects profit after tax margin in the range of 14-15% band.
We expect L&T Infotech to grow at ~28% YoY and profit after tax margins to be higher than guided range at 16% in FY22.
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