Larsen and Toubro Infotech (LTIS) is a global technology consulting and digital solutions company helping more than 300 clients succeed in a converging world. It accelerates its client's their digital transformation with LTI's Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys.
Founded in 1997 as a subsidiary of the Larsen & Toubro group, its unique heritage gives it unrivaled real-world expertise to solve the most complex challenges of enterprises across all industries.
q-o-q results
On sequential basis, it saw 6% rise in consolidated sales to Rs 2472.90 crore for the quarter ended December 2018. OPM rose 10 basis points to 20.6% which took OP up 6% to Rs 508.8 crore.
Other income fell 68% to Rs 30.90 crore and interest cost was down 24% to Rs 1.90 crore. As depreciation fell 4% to Rs 35.50 crore, PBT fell 6% to Rs 502.30 crore. Provision for tax fell 7% to Rs 126.80 crore, after which PAT went down 6% to Rs 375.50 crore.
y-o- y results
On y-o-y basis, sales were up 31% and OPM jumped 350 basis points. OP was up 58%. PBT grew 36% and PAT was up 33%.
Nine months results
For the nine months, sales consolidated grew 31% to Rs 6959.80 crore. OPM rose 330 basis points to 20.2% which took OP up 57% to Rs 1406.70 crore.
Other income fell 24% to Rs 234.90 crore and interest cost was down 26% to Rs 7.80 crore. As depreciation fell 8% to Rs 110.10 crore, PBT grew 42% to Rs 1523.70 crore. Provision for tax grew 54% to Rs 386.70 crore, after which PAT went up 38% to Rs 1137.00 crore.
Acquisition
It has acquired Ruletronics for an enterprise value of USD 7.48 million (about Rs 53 crore). Ruletronics enables businesses to transform and evolve digitally by providing innovative business process management and customer relationship management solutions leveraging 'Pega' Platform.
The enterprise value payable for the acquisition of 100% cent share capital of Ruletronics is USD 7.48 million, including up-front consideration and earn-outs.
The acquisition will strengthen the company's rapidly growing digital business with a suite of capabilities in Pega implementation in establishing BPM roadmap and strategy, customer services, RPA and decisioning.
Valuation
The stock trades at Rs 1807.
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