Net sales (including other operating income) of Larsen & Toubro Infotech has increased 5.91% to Rs 3462.5 crore.  

Operating profit margin has slumped from 21.88% to 18.71%, leading to 9.48% decline in operating profit to Rs 647.70 crore.  Employee cost increased from 60.73% to 63.77%.   Other expenses rose from 17.39% to 17.52%.   Other direct service cost fell from 15.95% to 15.62%.   

Other income rose 18.06% to Rs 121.6 crore.  Provision for interest fell 7.33% to Rs 17.7 crore.  

Provision for depreciation fell 3.75% to Rs 79.5 crore.  

Profit before tax down 6.24% to Rs 672.10 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 175.3 crore, compared to Rs 171.1 crore.  Effective tax rate was 26.08% compared to 23.87%.

Net profit attributable to owners of the company decreased 8.97% to Rs 496.30 crore.  

Consolidated Quarterly Result YoY comparison

Net sales (including other operating income) of Larsen & Toubro Infotech has increased 17.40% to Rs 3462.5 crore.  Sales of Banking Financial Services segment has gone up 21.72% to Rs 1,612.00 crore (accounting for 46.56% of total sales).  Sales of Manufacturing segment has gone up 11.42% to Rs 519.90 crore (accounting for 15.02% of total sales).  Sales of Energy & Utilities segment fell 0.82% to Rs 315.00 crore (accounting for 9.10% of total sales).  Sales of High Tech Media & Entertainment segment has gone up 28.75% to Rs 439.80 crore (accounting for 12.70% of total sales).  Sales of CPG Retail Pharma segment has gone up 15.37% to Rs 575.80 crore (accounting for 16.63% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 9.85% to Rs 653.80 crore.  PBIT of Banking Financial Services segment rose 21.67% to Rs 318.30 crore (accounting for 48.68% of total PBIT).  PBIT of Manufacturing segment fell 11.15% to Rs 99.60 crore (accounting for 15.23% of total PBIT).  PBIT of Energy & Utilities segment rose 32.84% to Rs 71.60 crore (accounting for 10.95% of total PBIT).  PBIT of High Tech Media & Entertainment segment fell 9.78% to Rs 62.70 crore (accounting for 9.59% of total PBIT).  PBIT of CPG Retail Pharma segment rose 3.57% to Rs 101.60 crore (accounting for 15.54% of total PBIT).  

PBIT margin of Banking Financial Services segment fell from 19.75% to 19.75%.  PBIT margin of Manufacturing segment fell from 24.02% to 19.16%.  PBIT margin of Energy & Utilities segment rose from 16.97% to 22.73%.  PBIT margin of High Tech Media & Entertainment segment fell from 20.35% to 14.26%.  PBIT margin of CPG Retail Pharma segment fell from 19.66% to 17.65%.  Overall PBIT margin fell from 20.18% to 18.88%.  

Operating profit margin has slumped from 20.07% to 18.71%, leading to 9.41% rise in operating profit to Rs 647.70 crore.  Employee cost increased from 61.82% to 63.77%.   Other expenses fell from 18.11% to 17.52%.   Other direct service cost fell from 16.26% to 15.62%.   

Other income rose 84.80% to Rs 121.6 crore.  Provision for interest fell 14.90% to Rs 17.7 crore.  

Provision for depreciation rose 1.79% to Rs 79.5 crore.  

Profit before tax grew 20.25% to Rs 672.10 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 175.3 crore, compared to Rs 142.5 crore.  Effective tax rate was 26.08% compared to 25.50%.

Net profit attributable to owners of the company increased 19.13% to Rs 496.30 crore. 

Yearly performance

Net Sale for the period was up by 14%YoY to Rs 12369.8 crore. In USD terms the revenue was up by 10% to USD 1670.1 million. But with OPM expand by 330 bps to 22%, the growth at operating profit was 34% to Rs 2725.1 crore. The PBT was up by 29% to Rs 2588.2 crore hit by lower OI and higher depreciation. The taxation was up by 35% to Rs 650 crore and thus the PAT was up by 27% to Rs 1938.2 crore. MI was up by 425% to Rs 2.1 crore and thus the net profit (after MI) was up by 27% to Rs 1936.1 crore.

Dividend

The company has announced special dividend of Rs 10 per share to commemorate the completion of 5 years of listing on the stock exchanges in India

Management Comment:

Commenting on the performance Mr Sanjay Jalona, Chief Executive Officer & Managing Director said "We are pleased to report our best ever Q1 sequential growth of 5.1% driven by holistic growth across our verticals, service lines, client pyramid and geographies. Our healthy pipeline and continued strong demand makes us confident of our future growth. Q1 also marks the 5-year anniversary of LTI's IPO and our Board has declared a special dividend to commemorate this occasion. Over these past 5 years, we have delivered USD revenue CAGR of 13.5% and more than doubled our net profit. I am proud of how we continue to innovate and deliver year on year industry leading growth. I am also excited as we strengthen our digital engineering capabilities welcoming Cuelogic Technologies to the LTI family."