Profit statements

Constant Currency LTI Revenue Grows 9.2% QoQ and 30.1% YoY; Net profit up 18.0% year-on-year

Mumbai, India, January 19, 2022 /PRNewswire/ — Larsen & Toubro Infotech (BSE 540005) (NSE: LTI), a global technology consulting and digital solutions company, today announced its fiscal 22 third quarter results.

In US dollars:

  • Turnover at $553.0 million; growth of 8.7% QoQ and 29.3% year over year
  • Constant exchange rate Revenue growth of 9.2% QoQ and 30.1% year over year

In Indian Rupees:

  • Turnover at INR 41,376 million; growth at 9.8% QoQ and 31.2% YoY
  • Net result as of INR 6,125 million; growth of 11.0%QoQ and 18.0% year over year

“We are pleased to report 9.2% QoQ revenue growth in constant currency. This is our best quarterly sequential growth since IPO. continue to have amazing conversations with our customers on their journeys of digital transformation.”
– Sanjay Jalona, ​​CEO and Managing Director

Recent contracts won

  • Selected by one of the world’s largest veterinary care practices and a chain of companion animal clinics in North America, a new logo, for a managed services agreement involving cybersecurity and IT infrastructure modernization, including cloud migration to gain operational efficiencies and transform clinic management and support
  • Hired by a Global Fortune 500 multinational pharmaceutical company to modernize and support its data platform ensuring speed and real-time data availability, scalability for future expansion and optimized cost
  • Selected by a Global Fortune 500 company and a global leader in beauty and cosmetics for the implementation of its HR transformation plan. Built on Snowflake technology, the engagement aims to augment next-generation HR analytics capabilities, one-stop-shop for data, real-time access, and mobile-friendly solutions.
  • Hired by a Global Fortune 500 energy company to provide “data management as a service” for their underground platform, ensuring efficient and transparent operations in a secure cloud-based environment
  • Selected by a North American utility company for the cloud transformation of data, infrastructure, security and ERP systems to create a resilient and scalable IT infrastructure
  • A global leader in semiconductor solutions has partnered with LTI to deploy SAP S/4HANA at one of its largest manufacturing sites to optimize business performance and improve business agility
  • A financial services company based in North America selected LTI to build the functionality needed to integrate, support and migrate the record keeping system onto the Unitrax platform. This will ensure that their distribution, support and operations efforts are streamlined on a single platform and will improve time to market for new product launches.
  • Hired by an insurance company to set up basic systems and to design, develop and support a digital platform enabling application integration with external and internal systems
  • Hired by a world bank headquartered in Europe for the digital transformation of its payment processing functionality in 12 countries from existing systems ensuring scalability, ability to process higher volumes, streamlining and standardization
  • LTI modernized the ERP platform and established a centralized and standardized e-commerce platform for a global manufacturer of critical flow control equipment and has now been selected to manage applications to improve customer experience and revenue growth.
  • A large bank in Namibia appointed LTI as a partner in its digital transformation journey. LTI will revamp the integration layer with microservices enabling the bank to become a cloud-ready digital leader in the chosen geographies by Africa
  • Selected to partner with one of the largest banks in the Middle East on their Wealth Management transformation using Temenos Wealth Management Suite ensuring best practices, efficiency, proper implementation and a scalable model for future expansion

Awards and Recognition

  • ISG Provider Lens™: Digital Business — Solutions and Service Partners 2021
    • LTI positions itself as a leader in digital business consulting services – United States
    • LTI positions itself as a leader in digital commerce experience services – US
  • LTI Recognized as a Leader in Everest Group’s Temenos IT Services PEAK Matrix® 2022 Assessment
  • LTI Positioned as a major player in IDC MarketScape Worldwide Managed Multicloud Services Vendor Assessment 2021
  • LTI ranked 5th in the 2021 HFS Top 10 Energy Services
  • LTI Positioned as a Leader in Everest Group Insurance Platforms IT Services PEAK Matrix Assessment 2022
  • LTI Recognized in Gartner Report What Distinguishes Successful Service Providers in the Data and Analytics Services Market, Twiggy Lo, October 28, 2021
  • Fosfor Lumin, the AI-Powered Augmented Analytics Product (formerly LTI Leni) Recognized in Forrester Report: Augmented BI Holds New Promises, But It’s Still Early Days, November 2021

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, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Other Company Highlights

  • LTI has partnered with Securonix and Snowflake to bolster its cybersecurity offerings and prevent sensitive data from facing growing threats as businesses migrate to the cloud
  • LTI Wins Top Performing Partner Award at Red Hat India

About the ILT

LTI (NSE: LTI) is a global technology consulting and digital solutions company that helps more than 475 clients succeed in a converging world. With operations in 33 countries, we go the extra mile for our customers and accelerate their digital transformation journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unparalleled real-world expertise to solve the most complex business challenges across all industries. Every day, our team of more than 40,000 LTItes enables our clients to improve the efficiency of their business and technology operations and deliver value to their customers, employees and shareholders. To learn more, visit or follow us @LTI_Global.

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