L&T Infotech Q4 Review - Industry-Leading Growth: Prabhudas Lilladher
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Prabhudas Lilladher Report
Larsen and Toubro Infotech Ltd. reported revenue at $447.4 million, growth of 4.6% quarter-on-quarter U.S. dollar, slight miss on our estimate of 4.8% QoQ U.S. dollar.
Growth was broad-based led by hi-tech and media (up 16.4% QoQ U.S. dollar) due to faster ramp up in Injazat deal, followed by banking and financial services (up 4.9% QoQ U.S. dollar) and manufacturing (up 5.2% QoQ U.S. dollar).
Banking and financial services vertical is poised for strong growth given:
Strong demand momentum from top client and
Partnership with Temenos and success in leveraging Syncordis acquisition has strengthened the company’s position in core banking.
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