L&T Infotech gains 6% after Q2 net profit rises 27%
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MUMBAI, Oct. 21 -- L&T Infotech (LTI) shares gained as much as 6% on Wednesday after the company reported a 26.7% year-on-year increase in consolidated net profit to Rs.456.8 crore for the quarter ended September.
At 02:15 pm, LTI stock was at Rs.3067.15, up 3.5% from its previous close, while the benchmark index, Sensex lost 0.70% to 40260.87.
Its revenue grew 16.6% to Rs.2,998.4 crore in the reported quarter. Sequentially, the net profit was up 9.7%, while the topline rose 1.7%. In constant currency terms, revenue increased 2.3% quarter-on-quarter and 10.5% year-on-year. The results were declared aftermarket hours on Tuesday.
Better pricing, utilization, and off-shore mix drove robust improvement of 250 basis points (bp) QoQ / 440bp ...
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