Larsen & Toubro Infotech Limited (LTI) Announces: Net Profit Jumps 5% QoQ; USD Revenue Growth up 2% QoQ and 12% YoY
Larsen & Toubro Infotech (BSE code: 540005)(NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY18 results today.
In US Dollars:
- Revenue at USD 259.2 million; growth of 2.0% QoQ and 12.2% YoY
- Constant Currency Revenue growth of 1.5% QoQ and 11.8% YoY
In Indian Rupees:
- Revenue at Rs 16,707 million; decline of 0.4% QoQ and growth of 7.4% YoY
- Net Income at Rs 2,672 million; Net Income growth of 5.0% QoQ and 13.3% YoY
“We continue our growth trajectory with a 2% QoQ increase in USD revenues, reflecting the resilience of our portfolio. Digital Services and Infrastructure Management drove Q1 growth and our outlook for the year remains positive. Digital now represents over 29% of our revenues and the client adoption of Mosaic continues to grow.
As we mark the first anniversary of our public listing this month, I would like to thank our investors for their continued support and confidence.”
- Sanjay Jalona, Chief Executive Officer & Managing Director
Recent Deal Wins
- Multi-year application portfolio rationalization, production support and digital transformation deal with a Fortune 500 multi-specialty Bank and Insurance company in the US
- US based Global CPG manufacturer selected LTI for digitizing its operations using SAP S/4 HANA
- Multi-year Robotic Process Automation advisory and implementation deal with a global investment banking and financial services corporation spanning more than 100 countries to achieve financial and operational efficiency
- Design and deployment of Robotics Process Automation for a Germany headquartered Re-insurance Company
- Won multi-year deal from US based Retailer to successfully migrate its SAP infrastructure to AWS
- A US based distributor of Auto and Industrial replacement parts has selected LTI for Automated Testing services
- Sales Force CRM Implementation for a France based Water resources firm
- A US based, medical devices company selected LTI for implementation and support of Cloud based Oracle ERP solution
Marcus Galafassi, Vice-President Information Technology and CIO, Otis Elevator Company, said, “Otis is committed to building a more agile, digital organization and LTI is a key strategic partner in our ERP transformation journey. As a long-standing technology partner, LTI is facilitating Otis’ transformation by supporting deployment of our new centrally managed, single global ERP solution across 19 sites this year and is partnering with us to accelerate the solution deployment to an additional 65+ countries in the next four years. With better visibility to all financial aspects, enhanced branch reporting, automated workflow approvals, and reduced IT complexity, together we are building a strong foundation for Otis’s transformation as a digital enterprise.”
AssuredPartners, a leading independent property and casualty and employee benefits brokerage firm has selected LTI as a strategic transformation partner for a program that is harmonizing infrastructure & migrating workloads of its 170+ agencies across the US, to the cloud.
“This initiative will transform our IT capabilities to be highly responsive, flexible and scalable - making technology a true growth enabler for our business,” said Tony Mattioli, CIO of AssuredPartners. “Given the importance of this program, we were looking for an IT Partner with an excellent track record in our industry and experience with executing large Infrastructure transformation programs. I am pleased to have LTI partner with us on this important initiative.”
Other Business Highlights
- LTI has established a subsidiary in Mexico to expand our geographical footprint.
- LTI has been elevated as an ‘ELITE’ partner of Microsoft Xamarin. This elevated status will help support LTI's mobile app development initiatives and strengthen our platforms like Mosaic Experience.
- LTI joined the Oracle Cloud Platform Managed Partner program. The Oracle Cloud Platform Managed Partner (CPMP) Program recognizes partners with the skills and expertise to build, deploy, run, and manage both Oracle and non-Oracle workloads on Oracle Cloud Platform for PaaS as well as IaaS applications.
- LTI and Microsoft have entered a strategic partnership to provide Blockchain-as-a-service on Azure. As a member of the Microsoft Blockchain Council, LTI is building ready to deploy Blockchain solutions across industries like finance, insurance and manufacturing. This membership is by invitation only, and will further enhance our solution offerings for Blockchain.
Awards and Recognitions:
- LTI won the Oracle Digital Transformation award for Optimizing JD Edwards with IaaS
- Named by ISG as an Americas Sourcing Standout and one of the Top Service Providers in the Breakthrough 15 list of the Global ISG Index™
- LTI positioned as a ‘Leader’ in the NelsonHall NEAT 2017 for IoT Services
- LTI is positioned as a ‘Contender’ in the IDC MarketScape: Worldwide Industry Collaborative Cloud Professional Services 2017 Vendor Assessment (doc #US41907917, June 2017)
- LTI in the Leadership Zone in the Overall and BFS segments of, Zinnov Zones for Robotic Automation Services 2017
- Positioned as a Major Contender and Star Performer in the Everest Group’s Independent Testing Services PEAK Matrix™ Assessment 2017
- LTI’s Mosaic mentioned in Gartner’s Competitive Landscape of IoT Platform Vendors report for 2017, dated 26th May, 2017, Alfonso Velosa
* 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.
LTI (NSE: LTI)(BSE: 540005) is a global technology consulting and digital solutions company helping more than 250 clients succeed in a converging world. With operations in 27 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 20 years ago as a subsidiary of the Larsen & Toubro group, 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 20,000 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 www.Lntinfotech.com or follow us at @LTI_Global.
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