Business News | LTI Q1 Net Profit Up 17 Pc Y-o-y at Rs 416 Crore
Get latest articles and stories on Business at LatestLY. Digital solutions major Larsen & Toubro Infotech (LTI) has reported net income at Rs 416 crore in the first quarter of the current fiscal year, marking 17.1 per cent growth year-on-year but a fall of 2.6 per cent quarter-on-quarter.
Mumbai (Maharashtra) [India], July 16 (ANI): Digital solutions major Larsen & Toubro Infotech (LTI) has reported net income at Rs 416 crore in the first quarter of the current fiscal year, marking 17.1 per cent growth year-on-year but a fall of 2.6 per cent quarter-on-quarter.
Revenues came at Rs 2,949 crore, declining by 2.1 per cent q-o-q and growing by 18.7 per cent y-o-y.
In dollar terms, revenues totalled 390 million in Q1 FY21, dipping by 4.8 per cent q-o-q but growing by 9.5 per cent y-o-y. Constant currency revenue decreased by 4.7 per cent q-o-q but grew by 10.6 per cent y-o-y.
"COVID-19 is a crisis unlike any other and its impact on lives and livelihoods continues to be felt across the world. I am extremely proud of our LTItes who have stood together during these times ensuring client deliveries," said CEO and Managing Director Sanjay Jalona.
A UK-based wealth management firm recently selected LTI for a multi-million, multi-year deal to provide remote infrastructure support, modern cybersecurity services and migration to IBM power cloud from its legacy wealth management platform.
LTI was also chosen by a leading American aerospace company to provide managed services for its data centre as well as to enable migration for its on-premise infrastructure to cloud. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)