LTI constant currency revenues grow 9.2% QoQ and 30.1% YoY; Net profit up by 18.0% YoY

MUMBAI, India, Jan. 19, 2022 /PRNewswire/ — Larsen & Toubro Infotech (BSE 540005) (NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY22 results today.

In US Dollars:

• Revenue at USD 553.0 million; growth of 8.7% QoQ and 29.3% YoY
• Constant Currency Revenue growth of 9.2% QoQ and 30.1% YoY

In Indian Rupees:

• Revenue at INR 41,376 million; growth at 9.8% QoQ and 31.2% YoY
• Net Income at INR 6,125 million; growth of 11.0% QoQ and 18.0% YoY

“We are happy to report 9.2% QoQ revenue growth in constant currency. This is our best ever quarterly sequential growth since listing. Our ongoing revenue momentum sets us up to deliver our highest year-over-year growth as a publicly listed company. We continue to have incredible conversations with our customers on their digital transformation journeys.”

– Sanjay Jalona, Chief Executive Officer & Managing Director

Recent Deal Wins

• Selected by one of the largest global veterinary care practices and chain of North American pet clinics, a new logo, for a managed services deal involving cyber security and modernization of IT infrastructure including migration to cloud to gain operational efficiencies and transform clinic management and support
• Engaged by a Global Fortune 500 multinational pharma corporation to modernize and support its data platform ensuring speed and availability of real time data, scalability for future expansion and optimized cost
• Selected by a Global Fortune 500 company and a world-wide leader in beauty and cosmetics for implementing its HR Transformation plan. Based on Snowflake technology, the engagement aims to augment next-gen HR Analytics capabilities, one-stop-shop for data, real-time access and mobile friendly solutions
• Engaged by a Global Fortune 500 energy company to provide ‘Data Management as-a-Service’ for their Subsurface Platform ensuring efficient and seamless operations in a secure, cloud-based environment
• Selected by a North American utility company for cloud transformation across data, infrastructure, security and ERP systems to build resilient and scalable IT infrastructure
• A world leader in semiconductor solutions partnered with LTI to rollout SAP S/4HANA to one of their largest manufacturing sites to optimize business performance and improve business agility
• A financial services firm based in North America has selected LTI to build the necessary functionality to integrate, support and migrate record keeping system onto the Unitrax platform. This will ensure their distribution, support and operations efforts are streamlined onto a single platform as well as improve time-to-market for new product launches
• Engaged by an insurance carrier to set up core systems and to design, develop and support a digital platform enabling integration of applications with both external and internal systems
• Engaged by a global bank headquartered in Europe for digital transformation of its payment processing functionality in 12 countries from legacy systems ensuring scalability, ability to process higher volumes, streamlining and standardization
• LTI modernized the ERP platform and established a centralized and standardized e-commerce platform for a global mission critical flow control equipment manufacturer and has now been selected to manage applications to drive enhanced customer experience and revenue growth
• A large bank in Namibia has appointed LTI as its partner on its digital transformation journey. LTI will revamp the integration layer with microservices enabling the bank to become cloud-ready digital leader in its chosen geographies in Africa
• Selected to partner with one of the largest banks in the Middle East on their wealth management transformation using Temenos Wealth Management Suite ensuring best practices, efficiencies, right shoring and a scalable model for future expansion

Awards and Recognitions

• ISG Provider Lens™: Digital Business — Solutions and Service Partners 2021
• LTI Positioned as a Leader in Digital Business Consulting Services – US
• LTI Positioned as a Leader in Digital Business Experience Services – US
• LTI Recognized as a Leader in Everest Group’s Temenos IT Services PEAK Matrix® Assessment 2022
• LTI Positioned as a Major Player in IDC MarketScape Worldwide Managed Multicloud Services Vendor Assessment 2021
• LTI Ranked 5th in HFS Top 10 Energy Services 2021 
• LTI Positioned as a Leader in Everest Group’s Insurance Platforms IT Services PEAK Matrix Assessment 2022
• LTI recognized in Gartner Report What Distinguishes Successful Service Providers in the Data and Analytics Services Market, Twiggy Lo, 28 October 2021
• Fosfor Lumin, the AI-powered augmented analytics product (formerly LTI Leni) recognized in The Forrester Report : Augmented BI Holds New Promises, But It’s Still Early Days, November 2021

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose

Other Business Highlights

• LTI has partnered with Securonix and Snowflake to strengthen its cybersecurity offerings and prevent sensitive data from growing threats as enterprises migrate to cloud
• LTI wins Top Performing Partner Award at Red Hat India

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 475 clients succeed in a converging world. With operations in 33 countries, we go the extra mile for our clients and accelerate their digital transformation journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 40,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global.

Earnings Conference Call and Audio Webcast

Jan 19^th, 2022 (08:00 PM IST)

Please dial the below number at least 5-10 minutes prior to the conference schedule to ensure that you are connected to your call in time.

 

Logo: https://mma.prnewswire.com/media/1044154/LTI_Logo.jpg  

Source link