InvestorQ : How did you see the L&T Infotech results announced late last week for Q2?
Rashi Mehra made post

How did you see the L&T Infotech results announced late last week for Q2?

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Archita Jajjoo answered.
1 month ago
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For the September 2022 quarter i.e. Q2FY23, L&T Infotech reported 28.4% higher sales revenues at Rs4,836.70 crore on a consolidated basis with 6.94% sequential revenue growth. In constant currency terms, the growth in revenues stood at 21.6% yoy and at 4.6% on a sequential basis. Let me now turn to the sectoral and vertical wise perspective of growth. Energy and Utilities led the way with 27.5% growth followed by BFSI at 24.3%. Manufacturing grew single digits while Hi-tech/media saw flat to negative growth in the quarter. LTI saw 41.4% growth in AI and Cognitive driven by US and Europe. Here is gist.

L&T Infotech

Rs in Crore

Sep-22

Sep-21

YOY

Jun-22

QOQ

Total Income (Rs cr)

₹ 4,836.70

₹ 3,767.00

28.40%

₹ 4,522.80

6.94%

Net Profit (Rs cr)

₹ 679.30

₹ 551.50

23.17%

₹ 633.50

7.23%

Diluted EPS (Rs)

₹ 38.70

₹ 31.41

₹ 36.08

Net Margins

14.04%

14.64%

14.01%

Now for the profit picture. PAT for September 2022 quarter was up 23.2% at Rs679.3 crore while the EBITDA margins were slightly tepid at 18.8% due to cost pressures. The company added 22 clients in the quarter taking its total tally to over 500 clients. Nearly half the clients are above $1 million in size. Like most of the IT companies, even for LTI, the attrition has gone up by 470 bps yoy at 24.3%, but that is still lower than Infosys. Net margins came 14.04% for Q2FY23 was lower than 14.64% in the year ago quarter but tad better than 14.01% in the sequential June 2022 quarter. Net margins have been relatively stable.

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