Larsen & Toubro Infotech (LTI), L&T's tech consulting and digital solutions division, on Tuesday, reported a 17 percent year-on-year (YoY) jump in net profit at Rs 637.5 crore for the fourth quarter ended March 31, 2022.
In the corresponding quarter last year, the company posted a net profit of Rs 546 crore. CNBC-TV18 Polls had predicted a profit of Rs 636 crore for the quarter under review.
Total revenue for the quarter rose 32 percent YoY to Rs 4,301 crore from Rs 3,269.4 crore in the year-ago quarter. For the year ended March 31, 2022, L&T Infotech recorded an 18.63 percent rise in consolidated profit at Rs 2,296.8 crore. In the year-ago period, it was at Rs 1,936.1 crore.
The company's annual income from operations grew 26.66 percent to Rs 15,668.7 crore in the last fiscal compared to Rs 12,369.8 crore in 2020-21.
The Board of Directors at its meeting held on April 19th, 2022 have recommended a final dividend of Rs 30 per equity share (Face value of Re 1) for the financial year 2021-22. The total dividend for FY22 is Rs 55 per equity share, including the interim dividend of Rs 15 and the special dividend of Rs 10 per equity share declared in October 2021 and July 2021 respectively.
"We are delighted to cross the $2 billion revenue milestone with record growth of 26% in FY22, our strongest since listing. Our growth has been broad-based across verticals, service lines, client buckets and geographies. The year has seen the highest new client openings and net headcount additions," Sanjay Jalona, chief executive officer and managing director, said.
"In Q4 FY22, we won 4 large deals with net new TCV of over $80 million. Our deal pipeline continues to be robust, and we remain confident of maintaining industry-leading growth in the coming year as well," Jalona said.
The results came after the close of the market hours. Shares of Larsen & Toubro Infotech ended at Rs 5,486.15, down by Rs 380.50, or 6.49 percent on the BSE.
First Published: Apr 19, 2022 6:13 PM IST
