Larsen & Toubro Infotech Q4FY22 Results: Consolidated profit rose 4.08% QoQ to Rs 637.5 crore

Larsen & Toubro Infotech, L&T's Technology consulting and digital solutions division, has reported a 4.08% QoQ rise in the consolidated profit at Rs 637.5 crore for the fourth quarter ended March 31, 2022. In the previous quarter ended December 31, 2022, the company had poted a profit of Rs 612.5 crore.

Revenue from operations grew 3.96% QoQ to Rs 4,301.6 crore as compared to Rs 4,137.6 crore posted in the previous quarter. In dollar terms, the revenue grew 3.07% to $57 crore as compared to $55.3 crore posted in December 2021 quarter.

EBIT stood at Rs 745 crore, up 0.4% QoQ compared to Rs 742 crore posted in December 2021 quarter. Margin dropped marginally to 17.3% in Q4FY22 as against 17.9% posted in Q3FY22. Constant Currency revenue grew by 3.6% in Q4FY22 and 29% in FY22.

Besides, the Board of Directors have recommended a final dividend of Rs 30 per equity share of Re 1.00 each, for the financial year 2021-22, for approval of the shareholders. If approved by the shareholders, the final dividend shall be paid within thirty days from the conclusion of the Annual General Meeting ('AGM'). Record date for the purpose of determining shareholders eligible to receive dividend, shall be intimated in due course.

"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," said, Sanjay Jalona, Chief Executive Officer and Managing Director, LTI.

"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 company's attrition level stood at 24% in the reported quarter against 22.5% in the previous quarter.