Monday, November 30, 2020
News
NEWS HOME
»
PRN INDIA
LTI USD revenues grow 11.2% YoY; Net Profit up 26.7% YoY
  SocialTwist Tell-a-Friend  
   

MUMBAI, India, Oct. 20, 2020 /PRNewswire/ --  Larsen & Toubro Infotech (BSE code: 540005) (NSE: LTI), a global technology consulting and digital solutions company, announced its Q2 FY21 results today.

LTI Logo

 

In US Dollars:

  • Revenue at USD 404.5 million;  increase of 3.6% QoQ and  11.2% YoY
  • Constant Currency Revenue increase of 2.3% QoQ  and  10.5% YoY

In Indian Rupees:

  • Revenue at INR 29,984 million;  increase of 1.7% QoQ and growth of  16.6% YoY
  • Net Income at INR 4,568 million;  increase of 9.7% QoQ and  growth of  26.7% YoY

"We are pleased to report 11.2% YoY growth in revenues and 26.7% YoY growth in net profit in Q2. We are also happy to announce a large deal with net new TCV in excess of USD 40mn in analytics. Our large deal pipeline remains strong and we see increased traction in digital, cloud and analytics space.

The pandemic has made it apparent that organizations need to reimagine their target operating models embracing digital transformations to remain relevant in the marketplace. This presents tremendous opportunities for companies like us with comprehensive digital transformation capabilities,"

- Sanjay Jalona, Chief Executive Officer & Managing Director

Recent Deal Wins

  • LTI has been selected by a key government ministry for a large data and analytics led transformation deal. As part of the deal, applications and operations will be transformed and developed for collection and dissemination of data as information, case management and fraud management using artificial intelligence
  • A leading powerhouse semiconductor company has partnered with LTI on its transformation journey to re-imagine their digital core and move away from their existing Oracle EBS on-prem version to S/4 HANA on cloud
  • LTI has been selected to set up a digital and AI driven Security Operations Centre with an objective to completely modernize the digital security apparatus by a leading provider and manufacturer of heating and cooling solutions and equipment
  • LTI has been chosen to manage all the testing services including that of 3rd party products, in-house applications, web portals and mobile applications to ensure high quality experience by end users of a U.K. based wealth management firm
  • A financial services provider has selected LTI as its partner of choice to provide services for legacy modernization and enterprise integration
  • A global HVAC manufacturer has selected LTI to rationalize and migrate its data application landscape to cloud
  • A manufacturer of medical supplies and equipment has selected LTI for application support and maintenance activities for its COTS and custom applications to ensure flexible cost structure, better knowledge retention and better KPI management
  • A multi-national manufacturer of industrial products has selected LTI as its preferred partner to implement Extended Warehouse Management systems by SAP to ensure process harmonization, efficient operations and automation across all its warehouses
  • A Global Fortune 500 energy company has selected LTI for maintenance and functional support for their content server to ensure secure systems for data storage throughout its lifecycle
  • A Global Fortune 500 pharmaceutical company chose LTI to migrate its on-premise commercial database system to cloud
  • A drilling rig operator has selected LTI to provide enhancements, maintenance and support to its business-critical IT system on their drilling rigs to ensure safety and efficiency of rig workers

Awards and Recognitions

  • LTI Recognized as a Leader and Rising Star in the ISG Provider Lens™ Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions Report, Nordics 2020
  • LTI's business process transformation for a Leading Manufacturer of High-performance Blenders featured in ISG's Book on Digital Excellence, Scaling Digital: 25 Stories of Innovation
  • LTI featured as a Major Contender in Everest Group Cloud-Native Application Development Services PEAK Matrix ® Assessment 2020
  • LTI recognized as a Sample Vendor in Gartner Hype Cycle for Analytics and Business Intelligence, 2020

*Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose

Other Business Highlights

  • The Board of Directors at its meeting held on October 20th, 2020 have declared an interim dividend of INR 15 per equity share (Face Value of INR 1)
  • LTI launched Canvas PolarSled, an automated cloud migration and modernization framework to help enterprises accelerate their data journey to Snowflake, the cloud data platform
  • LTI is now an 'Elite' (highest) level partner with ServiceNow in the Sales, Services and Managed Services category
  • LTI has been recognized as a Great Place to Work-Certified™ Company in the USA
  • LTI ranked #1 in the Institutional Investor's 2020 All-Asia Executive Team survey, across all sell-side categories in the Technology/IT Services & Software space. It was the only IT Services Company to be included in the 'Most-Honored' List 2020
  • LTI has bagged the Platinum Award (highest category) for its Warli CSR project in the Employment Enhancing Vocational Skills category at the 7th Annual CSR Awards 2020, organized by the Greentech Foundation
  • LTI released its 4th Sustainability Report with the theme of 'Partnering for a Resilient Future'. Through this report, we present to you how LTI has focused on three critical aspects to sustainable development – Education, Empowerment and Environment

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 400 clients succeed in a converging world. With operations in 31 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI's Mosaic platform  enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us  unrivalled  real-world expertise to solve the most complex challenges of enterprises across all industries. Each day,  our team of more than 30,000 LTItes  enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global.

Logo  - https://mma.prnewswire.com/media/1044154/LTI_Logo.jpg

More News by PR Newswire India

BigRock Announces Black Friday Sale with up to 58% OFF on Web Hosting, Domains and more

HostGator India Announces Black Friday & Cyber Monday Discounts on Web Hosting, Domains, Email Hosting and More

Media Alert: Kimpton Maa-Lai Bangkok launches the first in Asia tactile hotel reviews

European Medicines Agency Validates Application for Tepotinib for the Treatment of Advanced NSCLC with METex14 Skipping Alterations

Haoma Medica Completes First-in-Human Trial for NaQuinate, a Novel Treatment in Development for Osteoporosis

Successive Technologies Appraised at CMMI Level 3

Papuan Pastor Questions BBC Reports on Indonesian Palm Oil Company Korindo

Sony Music Brazil launches new programme to boost digital transformation in the Brazilian music industry

'Great Place to Work® India' institute recognizes HashedIn as India's Best Workplaces in IT & IT-BPM 2020

Simplilearn Launches SkillUp Program for Tech Professionals

AstraZeneca's signs MoU with Indian Diabetes Research Society (RSSDI) to empower 1 Crore Indian Diabetic patients by 2023

Xinhua Silk Road: Red Xifeng debuts at NEXT Summit (Sky 2020), spreading Chinese liquor culture through cooperation

Glenmark Pharmaceuticals secures its position in the prestigious Dow Jones Sustainability Emerging Markets Index for the third year in a row

Peak performance as Chengdu cleans up with park city vision

ResellerClub offers Black Friday Deals of up to 60% off on Web Hosting & Domains

Tuxera First to Bring Network Bandwidth-Saving SMB Compression Feature to Linux Environments

Autotech Co Hong Kong Limited Completes Two-Year Autonomous Research Project

Eightfold AI Raises $125M Series D Funding Round to Provide the Right Career for Everyone in the World

Statement from XTX Markets: fraudulent company claiming to be affiliated with XTX Markets

Azure Databricks Achieves FedRAMP High Authorization on Microsoft Azure Government (MAG)

Frost & Sullivan Examines 8 Strategic Imperatives for Growth in a Post-COVID World

Sirtex Medical and China Grand Pharmaceutical announce SIR-Spheres® Y-90 resin microspheres milestone

5 Ways to Combat Fraud During the Holidays

QS release annual list of Asia's best universities

Home relocation services see more takers in WFH world

Agora Powers Innovative Virtual Experiences Beyond Video Conferencing

Frost & Sullivan Reveals Four Key Areas Driving Growth of the Global Gigabit Ethernet Testing Market

Habanos, S.A. Has Presented the World Premiere Of H. Upmann Connossieur No.2 in Berlin

Virtual Events Platform Airmeet Launches Multi-Track Event Format, Good for Mega-Conferences with Exhibition Booths

GEP Wins Top Honors at Asia Pacific's Prestigious Procurement Success Awards

LONGi supplies 273MW of its solar modules for Southeast Asia's largest solar plant, Phase I of the Xuan Thien Ea Sup Project in Dak Lak, Vietnam

Clarivate Pledges Support for the Women's Empowerment Principles

Managing strategic risk for global companies

SoftIron's Open Source-Based HyperDrive® Storage Solution Verified Veeam Ready

Kavalan Launches Limited Edition 'Artist Series'

Global healthcare experts concerned over rising environmental toxicity and its impact on maternal health in low- and middle-income group countries, including India

The Himalaya Drug Company Introduces Q-DEE Range of Mouth Dissolving Tablets for Immunity and Cramps

Frost & Sullivan awards Digital14 'Company of the Year' in the United Arab Emirates cybersecurity services industry

D-Link Smart Home Products Acquire Taiwan Excellence Award

QAD Adaptive ERP 2020.1 Achieves Veracode Verified Standard Status

Future of digital payments - What's next for India's Digital Space: Lyra Network

Hon'ble Education Minister, Shri Ramesh Pokhriyal 'Nishank' launches various initiatives of Sri Aurobindo Society and HDFC Bank

2020 Global Terrorism Index: Deaths from terrorism reach five-year low, but new risks emerge

Deepak Nitrite ranked and recognized by Forbes Asia as Best Under Billion Top 200

Hiring & Exit Trends Making a Healthy Return to Pre-COVID levels: A data-driven perspective - PeopleStrong

ZTE and GSMA Intelligence Release White Paper on Green 5G - 5G Energy Efficiencies, Green is the New Black

She one of Asia's Top 30 Under 30 and one of Top 30 Women Transforming India. Meet UTS alum Madhavi Shankar.

MedAlliance announces successful completion of enrolment in ISABELLA clinical trial for the treatment of failing AV fistulas in hemodialysis patients

SW China's Chengdu to host event on international supply chain innovation

Cision's New Analytics Dashboards and Interactive Reports Make It Faster and Easier to Demonstrate the Real Business Impact of Earned Media

Adjust Joins Adobe Exchange Partner Program to Enhance App Marketing Measurement, Fraud Prevention and Reporting for Digital Advertisers

Impartner Announces Live 3D Virtual Summit Featuring Top Channel Analysts Jay McBain and Maria Chien

Frost & Sullivan Inspects the Growth Trajectory of Solar PVs Over the Next Decade

ViewSonic Unveils vTouch to Facilitate Multi Touch for macOS

Empire State Realty Trust Achieves GRESB 5 Star Rating in First Year of Participation

Advanced Water Purification Technologies Promise to Deliver Clean and Safe Water to the Global Population

PwC Actuarial Services Hails Aon's PathWise® Platform for IFRS 17 Reporting

STRATACACHE Hires Digital Signage and Retail Veteran to Spearhead Scala Business Development in Canada

The cost of one dose of the Sputnik V vaccine will be less than $10 for international markets

FARO® Launches Latest Vantage Laser Tracker 6DoF Probe

World's Airports And Leading Airlines Join CommonTrust Network And Begin Roll-out Of CommonPass In December In Support Of Safer Border Reopening

Absolut and Beatport Launch NYE 2020 - a 20+ Hour, 15-city, Global New Year's Eve Live Stream Party to #DanceAway2020

Second interim analysis of clinical trial data showed a 91.4% efficacy for the Sputnik V vaccine on day 28 after the first dose; vaccine efficacy is over 95% 42 days after the first dose

Surge in Global Demand for Personal Mobility Brings New Momentum to Two-wheeler Industry, Says Frost & Sullivan

Frost & Sullivan Presents 5 Technology Growth Opportunities in Sensors and Automation for 2021

Signature Event By Cosmoprof India, A Niche B2B Show For The Beauty Industry, To Be Held On 22-23 February 2021 In Mumbai

Genesys Named a Leader in the Gartner 2020 Magic Quadrant for Contact Center as a Service

ANMI kickstarts 'Investor Awareness Week-2020' under the aegis of SEBI

XCMG launches X-GSS at Bauma China 2020, shows how to go digital in machinery manufacturing

Teachings of Guru Nanak are timeless and are more relevant in today's scenario says spiritual guru Sri Sri Ravi Shankar

Freelance on Demand: Rozgaar India to help Businesses adjust to changing times

SHIELD Announces DeviceSHIELD to Protect Small Businesses from Cyber Fraud During the COVID-19 Pandemic

INSIGHTEC Announces MR-guided Focused Ultrasound to Treat Essential Tremor Received Funding by National Health Service (NHS) England

Smytten - India's largest premium product trial platform, launches their new brand campaign: #BeSomethingNew

Atos awarded with the best CSR project for environment and sustainability in India

Crayon Data's Relevance Quotient Report 2020 Explains the Trends and Patterns of Personalized Banking

Philippines Launches New International Investment Promotion Brand Highlighting Its "Make It Work" Potential

Sinopec kickstarts extensive research on CO2 emissions peak and carbon neutral

HGC honoured with Best OTT Partnership Award

World Leaders and Millions of Citizens Call for Peace at Third Online Rally of Hope

New Centre for Medicines Research (CMR) Clinical Factbook From Clarivate Highlights Increasing Cost and Complexity of Phase II Trials

NPL and Cambridge Quantum Computing (CQC) collaborate in quantum computing

Syngenta Crop Protection announces launch of Spiropidion: a new insecticide active ingredient

Oslo, Los Angeles, Mexico City, Budapest Commit to Clean Construction, Moving the Industry Towards a Sustainable Future

Cobwebs' Threat Intelligence Solutions

American Wave Machines, Inc. Announces Two PerfectSwell® Projects

Yili's dollar bond debut wins the highest international credit rating

Which Windows Internet Security Software protects you best and which slows down your workstation

PR Newswire Publishes 2020 Tech Media Pitching Kit

Singapore-based startup Plano Wins World's Most Innovative HealthTech Startup 2020 Award

Longitude Prize launches AMR Voices: Stories from the frontlines of antibiotic resistance during Covid-19

Clarivate Strengthens IP Offering in Mainland China with New Domain Registrar License

Venture Global LNG Awards KBR EPC Contract for Plaquemines LNG Export Facility

Texas Cardiac Arrhythmia Institute at St. David's Medical Center to host virtual international symposium on complex cardiac arrhythmias

Volvo Financial Services Realigns Asia Pacific Organization to Better Serve Customers

Transforming the Future of Digital Health Management - Enjoy a More Fulfilling Life With Zepp

Philip Wong Joins Vasayo as President of Greater China Region

Enterprise Holdings Pledges $120 Million to Advance Social and Racial Equity and Expand the Fight Against Hunger

Tony Blair Institute and Oracle Launch Africa Vaccine Management in the Cloud

GemVax & KAEL reports further positive data from GV1001 Phase II Alzheimer's Disease trial

Xinhua Silk Road: Wuliangye joins Chinese business leaders to promote digital productivity in Asia Pacific

Fresenius Kabi and ASPEN partner for an expert interview series on omega-3 fatty acid containing parenteral nutrition

HarperCollins India is delighted to announce the acquisition of two new books by bestselling author, Preeti Shenoy

2020 TADS Awards Winners Announced At "TADS AWARDS GALA 2020" Presentation Ceremony Hosted in Hong Kong

CDNetworks Releases State of the Web Security for H1 2020: Web Application Attacks Boosted Over 800%

Recently published data on Favipiravir as treatment for mild to moderate COVID-19 demonstrates significant improvement in time to clinical cure

Zentiva Continues Its Planet-Z Program For A Healthier Planet By Planting 4,500 Trees In Portugal

Frost & Sullivan Recognizes Menlo Security as a Growth and Innovation Leader in the Asia-Pacific Web Security Market

Godrej Interio launches essential range, ushering festivities in India

Zymo Research Receives CE IVD Mark for its Quick-DNA/RNA™ Viral MagBead Kit

Indira IVF is now in 93 centres across India

Creation of a research partnership between Pierre Fabre and Y-Biologics for the development of new immunotherapies based on monoclonal antibodies

GCash overtakes popular brands in local app rankings

G20 Riyadh Summit: Release of Leaders' Declaration

CGTN: China calls for more inclusive development in post-COVID world

Family Photo from Today's Opening Session of the G20 Riyadh Summit

OPENING REMARKS: G20 Riyadh Summit

GAC MOTOR Lands in Chile With Its GS4, GS3, and GA4, building up strength in South America and Accelerating Global Expansion

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Shah positive about resumption of mining...
7 alleged Maoists surrender before polic...
Our goal is to establish Gandhi's Ram Ra...
Educational institutions to remain close...
Cartel TikTok: Narcos post guns, drugs a...
Man held for shooting friend in Gurugram...
More...    
 
 Top Stories
Need to work on rotating the strike... 
Goa looking for first win of the se... 
PM to interact with more teams of C... 
Shah positive about resumption of m... 
Khattar could have called me up on ... 
Odisha Assembly adjourned sine die ... 
Team breathed a sigh of relief afte... 
Rohit Saraf: Look forward to everyt...