L&T Infotech Q4 Review - Consistency Continues: ICICI Securities
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L&T Infotech Q4 Review - Consistency Continues: ICICI Securities

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.

ICICI Securities Report

Larsen and Toubro Infotech Ltd. reported Q4 FY21 revenue growth (up 4.4% QoQ, constant currency) was in line with our estimates.

Barring a few verticals (insurance, energy and utility), growth was reasonably broad based.

North America across geographies and top-five clients remained an overhang on overall growth.

Notably, growth in top-20 accounts remained tepid throughout FY21.

Ebit margin came in 80 basis points ahead of our expectations, led largely by provision reversal.

Company reiterated its earlier outlook of remaining in leadership quadrant on growth in FY22.

Strong large-deal total contract value in FY21 in conjunction with healthy pipeline drives this confidence.

Click on the attachment to read the full report:

ICICI Securities L&T Infotech Q4FY21 Result Update.pdf


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