On consolidated basis
Larsen and Toubro Infotech for the quarter ended June 2022 registered
a consolidated sales of Rs 4522.8 crore, a growth of 5.1% QoQ and 30.6% yoy
basis. On USD terms the revenue for the quarter was up by 1.7% QoQ basis and 23.4%
YoY basis. Eventually the net profit (after MI) was Rs 633.5 crore, down 0.5% QoQ
basis and a growth of 27.7% YoY basis.
Quarter ended June 2022 compared
with Quarter ended March 2022.
Net sales (including other operating income) of Larsen & Toubro Infotech
has increased 5.14% to Rs 4522.8 crore.
Operating profit margin has declined
from 19.68% to 18.37%, leading to 1.84% decline in operating profit to Rs
830.80 crore. Employee cost increased from 60.60% to 63.51%.
Other expenses fell from 19.72% to 18.12%. Other direct
service cost fell from 18.17% to 16.96%.
Other income rose 7.54% to Rs 144.1
crore. PBIDT fell 0.56% to Rs 974.9 crore. Provision for
interest fell 7.94% to Rs 17.4 crore.
PBDT fell 0.42% to Rs 957.5
crore. Provision for depreciation rose 4.51% to Rs 106.5
crore.
Profit before tax down 1% to Rs
851.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 216.6 crore, compared
to Rs 222.1 crore. Effective tax rate was 25.45% compared to 25.84%.
Minority interest increased 80% to
Rs 0.90 crore. Net profit attributable to owners of the company
decreased 0.55% to Rs 633.50 crore.
Promoters’ stake was 74.03% as of 30
June 2022 ,compared to 74.05% as of 31 March 2022 .
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of Larsen & Toubro Infotech
has increased 30.62% to Rs 4522.8 crore. Sales of Banking Financial
Services segment has gone up 34.13% to Rs 2,162.10 crore (accounting for 47.80%
of total sales). Sales of Manufacturing segment has gone up 25.24%
to Rs 651.10 crore (accounting for 14.40% of total sales). Sales of
Energy & Utilities segment rose 26.44% to Rs 398.30 crore (accounting for
8.81% of total sales). Sales of High Tech Media & Entertainment
segment has gone up 19.33% to Rs 524.80 crore (accounting for 11.60% of total
sales). Sales of CPG Retail Pharma segment has gone up 36.59% to Rs
786.50 crore (accounting for 17.39% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 28.30% to Rs 838.80
crore. PBIT of Banking Financial Services segment rose 26.89% to Rs
403.90 crore (accounting for 48.15% of total PBIT). PBIT of
Manufacturing segment rose 46.49% to Rs 145.90 crore (accounting for 17.39% of
total PBIT). PBIT of Energy & Utilities segment fell 18.30% to
Rs 58.50 crore (accounting for 6.97% of total PBIT). PBIT of High
Tech Media & Entertainment segment rose 40.19% to Rs 87.90 crore
(accounting for 10.48% of total PBIT). PBIT of CPG Retail Pharma
segment rose 40.35% to Rs 142.60 crore (accounting for 17.00% of total
PBIT).
PBIT margin of Banking Financial
Services segment fell from 19.75% to 18.68%. PBIT margin of
Manufacturing segment rose from 19.16% to 22.41%. PBIT margin of
Energy & Utilities segment fell from 22.73% to 14.69%. PBIT
margin of High Tech Media & Entertainment segment rose from 14.26% to 16.75%. PBIT
margin of CPG Retail Pharma segment rose from 17.65% to
18.13%. Overall PBIT margin fell from 18.88% to 18.55%.
Operating profit margin has declined
from 18.71% to 18.37%, leading to 28.27% rise in operating profit to Rs 830.80
crore. Employee cost decreased from 63.77% to 63.51%.
Other expenses rose from 17.52% to 18.12%. Other direct
service cost rose from 15.62% to 16.96%.
Other income rose 18.50% to Rs 144.1
crore. PBIDT rose 26.73% to Rs 974.9 crore. Provision for
interest fell 1.69% to Rs 17.4 crore.
PBDT rose 27.39% to Rs 957.5
crore. Provision for depreciation rose 33.96% to Rs 106.5
crore.
Profit before tax grew 26.62% to Rs
851.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 216.6 crore, compared
to Rs 175.3 crore. Effective tax rate was 25.45% compared to 26.08%.
Minority interest increased 80% to
Rs 0.90 crore. Net profit attributable to owners of the company
increased 27.64% to Rs 633.50 crore.
Promoters’ stake was 74.03% as of 30
June 2022 ,compared to 74.25% as of 30 June 2021 .
Management Comment:
Commenting on the performance
Sudhir Chaturvedi, President sales and Executive Board member said: “We are
pleased to report 26.6% YoY revenue growth in constant currency. We added 4
Global Fortune 500 logos to our client list in Q1, taking our total Global
Fortune 500 customers to 77. We are also happy to announce 4 large deal wins
during the quarter with net new TCV of US$ 79mn.”
Nachiket Deshpande, Chief
Operating Officer & Executive Board Member said: “Our healthy pipeline will
ensure that we maintain our large deal momentum. Our sustained net headcount
addition reflects our confidence and continued focus to deliver strong growth
in FY23”
| Larsen & Toubro Infotech : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,522.80 | 3,462.50 | 30.62 | 15,668.70 | 12,369.80 | 26.67 | | OPM (%) | 18.37 | 18.71 | -34 bps | 19.52 | 22.03 | -251 bps | | OP | 830.80 | 647.70 | 28.27 | 3,058.40 | 2,725.10 | 12.23 | | Other Inc. | 144.10 | 121.60 | 18.50 | 466.70 | 274.40 | 70.08 | | PBIDT | 974.90 | 769.30 | 26.73 | 3,525.10 | 2,999.50 | 17.52 | | Interest | 17.40 | 17.70 | -1.69 | 72.80 | 78.80 | -7.61 | | PBDT | 957.50 | 751.60 | 27.39 | 3,452.30 | 2,920.70 | 18.20 | | Depreciation | 106.5 | 79.5 | 33.96 | 354.9 | 332.5 | 6.74 | | PBT | 851.00 | 672.10 | 26.62 | 3097.4 | 2588.2 | 19.67 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 851 | 672.1 | 26.62 | 3097.4 | 2588.2 | 19.67 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 851 | 672.1 | 26.62 | 3097.4 | 2588.2 | 19.67 | | Taxation | 216.6 | 175.3 | 23.56 | 798.9 | 650 | 22.91 | | PAT | 634.4 | 496.8 | 27.70 | 2298.5 | 1938.2 | 18.59 | | Minority Interest (MI) | 0.9 | 0.5 | 80.00 | 1.7 | 2.1 | -19.05 | | Net profit | 633.5 | 496.3 | 27.64 | 2296.8 | 1936.1 | 18.63 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 633.5 | 496.3 | 27.64 | 2296.8 | 1936.1 | 18.63 | | EPS (Rs)* | 36.13 | 28.31 | 27.64 | 131.01 | 110.43 | 18.63 | | | * EPS is on current equity of Rs 17.53 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Larsen & Toubro Infotech : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Banking Financial Services | 47.80 | 2,162.10 | 1,612.00 | 34.13 | 46.32 | 7,258.30 | 5,619.10 | 29.17 | | Manufacturing | 14.40 | 651.10 | 519.90 | 25.24 | 16.13 | 2,528.00 | 2,035.30 | 24.21 | | Energy & Utilities | 8.81 | 398.30 | 315.00 | 26.44 | 8.89 | 1,393.00 | 1,250.10 | 11.43 | | High Tech Media & Entertainment | 11.60 | 524.80 | 439.80 | 19.33 | 12.16 | 1,905.50 | 1,377.80 | 38.30 | | CPG Retail Pharma | 17.39 | 786.50 | 575.80 | 36.59 | 16.49 | 2,583.90 | 2,087.50 | 23.78 | | Total Reported Sales | 100.00 | 4,522.80 | 3,462.50 | 30.62 | 100.00 | 15,668.70 | 12,369.80 | 26.67 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 4,522.80 | 3,462.50 | 30.62 | 100.00 | 15,668.70 | 12,369.80 | 26.67 | | PBIT | | Banking Financial Services | 48.15 | 403.90 | 318.30 | 26.89 | 47.28 | 1,471.40 | 1,251.90 | 17.53 | | Manufacturing | 17.39 | 145.90 | 99.60 | 46.49 | 17.73 | 551.90 | 505.80 | 9.11 | | Energy & Utilities | 6.97 | 58.50 | 71.60 | -18.30 | 8.59 | 267.40 | 262.90 | 1.71 | | High Tech Media & Entertainment | 10.48 | 87.90 | 62.70 | 40.19 | 10.85 | 337.60 | 287.40 | 17.47 | | CPG Retail Pharma | 17.00 | 142.60 | 101.60 | 40.35 | 15.54 | 483.70 | 437.40 | 10.59 | | Total PBIT | 100.00 | 838.80 | 653.80 | 28.30 | 100.00 | 3,112.00 | 2,745.40 | 13.35 | | Less : Interest | | 17.40 | 17.70 | -1.69 | | 72.80 | 78.80 | -7.61 | | Add: Other un-allcoable | | 29.60 | 36.00 | -17.78 | | 58.20 | -78.40 | LP | | PBIT Margin(%) | | Banking Financial Services | | 18.68 | 19.75 | -106.47 | | 20.27 | 22.28 | -200.74 | | Manufacturing | | 22.41 | 19.16 | 325.07 | | 21.83 | 24.85 | -301.99 | | Energy & Utilities | | 14.69 | 22.73 | -804.27 | | 19.20 | 21.03 | -183.43 | | High Tech Media & Entertainment | | 16.75 | 14.26 | 249.28 | | 17.72 | 20.86 | -314.22 | | CPG Retail Pharma | | 18.13 | 17.65 | 48.59 | | 18.72 | 20.95 | -223.35 | | PBT | 100.00 | 851.00 | 672.10 | 26.62 | 100.00 | 3,097.40 | 2,588.20 | 19.67 |
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