Business Wire

LTI Constant Currency Revenue growth up 11.9% YoY; Digital revenues at 40%

Share

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q2 FY20 results today.

In US Dollars:

  • Revenue at USD 363.8 million; growth of 2.0% QoQ and 10.8% YoY
  • Constant Currency Revenue growth of 2.4% QoQ and 11.9% YoY

In Indian Rupees:

  • Revenue at Rs 25,707 million; growth of 3.4% QoQ and 10.3% YoY
  • Net Income at Rs 3,604 million; growth of 1.3% QoQ and (10.0%) YoY

“In Q2, we delivered a steady 11.9% YoY growth in constant currency driven by on-track ramp up of large deal wins that we announced earlier. We won three large deals in this quarter, all of them from new clients, aggregating to net-new TCV of ~US$100 million. A healthy pipeline, continued large deal momentum and fast-growing Digital services across all verticals make us optimistic about the future.

We are delighted to announce the acquisition of Powerup, a born-in-Cloud company that has completed 150+ engagements in Cloud. Powerup has deep expertise in building Cloud and AI solutions and is a premier consulting partner of AWS. “

- Sanjay Jalona, Chief Executive Officer & Managing Director, LTI

Recent Deal Wins

- A US based utility company, a new logo has selected LTI for multi-year, multi-million dollar deal to provide Cloud and Infrastructure Managed services

- Won multi-year, multi-million dollar managed services engagement with a European financial institution, a new logo

- Leading power generation company chose LTI as its partner for a green field and organization wide implementation of SAP S/4 HANA

- Awarded application management and transformation deal from a global leader in manufacturing space

- Global engineering giant chose LTI for AMS engagement

- A major Development Authority in the Middle East selected LTI for implementing next generation digital platform to manage its mega capital expenditure programs efficiently

- Leading manufacturing conglomerate awarded SAP S/4 HANA implementation to LTI for its co-innovative engineering, construction and operations (EC&O) solution developed along with SAP

- Global technology distributor chose LTI as its transformation partner to launch a new line of business

- A US based services firm engaged LTI to migrate its HR and workforce ERP applications to SaaS

Client Testimonial

“Convo has chosen LTI to be a critical growth partner because of their deep and wide technical knowledge and commitment to innovation. We see the partnership as critical to our short and long-term success in transforming the VRS industry. From deployment automation to integrated AI, LTI is embedded into all our daily workflows. With every solution, LTI continues to exceed our expectations.”

John Steinmetz, Chief Technology Officer, Convo Communications, LLC.

Awards and Recognitions

- LTI listed as one of The Breakthrough 15 Technology Provider Standouts in Americas, EMEA and Globally on the 3Q19 Global ISG Index™

- LTI's case study mentioned by Forrester as one of the meaningful IoT+Blockchain based Supply Chain use cases in their report titled: "IoT And Blockchain: A Powerful Pairing That Doesn't Yet Live Up to Its Promise"

- LTI ranked as a Major Contender and Star Performer in Everest Group Life Sciences Digital Services Peak Matrix™ Assessment 2019

- LTI recognized in the Constellation Research ShortList as a top vendor for Innovation Services and Engineering in Q3 2019

- LTI ranked as a Major Contender in Everest Group Data & Analytics Services PEAK Matrix™ Assessment 2019

- LTI named in Honorable Mentions in the Gartner, Magic Quadrant for SAP S/4HANA Application Services, Worldwide, 2019

. *Gartner, Magic Quadrant for SAP S/4HANA Application Services, Worldwide, 2019, Fabio Di Capua et al., 20 May 2019

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

- LTI signed a definitive agreement to acquire Powerup Cloud, a Bangalore based AWS Premier Consulting partner with capabilities in Cloud Consulting, Data Lake implementation and Cloud Native Application development. The company has two AI-powered cloud platforms - CloudEnsure.io, an Autonomous Cloud Governance Platform to help with continuous audit of cloud setup, and Botzer.io, an Enterprise AI Platform that builds chatbots for customer support, employee engagement and knowledge management.

- The Board of Directors at its meeting held on October 17th, 2019 have declared an interim dividend of Rs. 12.5 per equity share (Face Value of Re.1)

- LTI is now a ‘Premier’ partner of ServiceNow

- LTI has been felicitated with the ZEE Business National CSR Leadership Award 2019 for Innovations in CSR practices

- LTI released its 3rd Sustainability Report with the theme ‘Solving for Good’. We have drawn inspiration from the United Nations’ Sustainable Development Goals and the report lays down specific objectives and commitments that we have set for ourselves in our Sustainability Roadmap 2030.

About LTI :

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 360 clients succeed in a converging world. With operations in 30 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 unrivaled 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

Connect with LTI:

Contact information

Media Contacts:

Shambhavi Revandkar
PR & Media Relations - India
+91-9769509545
shambhavi.revandkar@lntinfotech.com

Karin Bakis
PR & Media Relations - USA
+1-978-998-1578
karin.bakis@lntinfotech.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Piper Sandler Advises Momentive Performance Materials on the Sale of its Consumer Sealants Business to Henkel Corporation7.8.2020 21:55:00 EESTPress release

Piper Sandler &Co., a leading investment bank and institutional securities firm, served as financial advisor to Momentive Performance Materials Inc. (Momentive) in the sale of its consumer sealants business to Henkel Corporation. The deal, which remains subject to customary closing conditions including regulatory clearances, is expected to close in 2020. Momentive’s consumer sealants business encompasses GE-branded consumer sealants sold under license from the General Electric Company and available through home-improvement centers, major retailers and hardware stores. Momentive will continue to manufacture consumer sealants through 2021 under a transition supply agreement. (Source: Momentive Performance Materials Inc.) “In the midst of a pandemic, we are delighted to have helped Momentive, reach this agreement and achieve the goals of the company and its shareholders,” said Telly Zachariades, managing director, chemicals and materials, at Piper Sandler. “We are looking forward to aidin

ENA Investment Capital Publishes Open Letter to Ontex Shareholders7.8.2020 14:00:00 EESTPress release

ENA Investment Capital (“ENA”), a long-term, value-oriented investment firm and the second-largest shareholder in Ontex Group NV (“Ontex” or the “Company”) owning c.15% of the Company’s outstanding shares, today issued the following public letter to Ontex’s shareholders. Dear Fellow Ontex Shareholders, ENA Investment Capital, owning c.15% of the voting shares of Ontex, has devoted considerable time and resources to conduct a thorough analysis of Ontex. This includes acquiring a comprehensive understanding of the personal hygiene segment and, more importantly, of the Company’s turnaround potential which we are convinced, if effectively executed, can deliver significant value for shareholders. As part of this extensive 18-month due diligence effort, we have consulted with former executives from Ontex as well as its main competitors, industry experts, investment bankers, lawyers and specialist consultants on a wide range of topics critical to Ontex’s business such as raw material trends a

Novavax and Takeda Announce Collaboration for Novavax’ COVID-19 Vaccine Candidate in Japan7.8.2020 12:28:00 EESTPress release

Novavax, Inc. (Nasdaq: NVAX), a late stage biotechnology company developing next-generation vaccines for serious infectious diseases, and Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK), today announced a partnership for the development, manufacturing and commercialization of NVX‑CoV2373, Novavax’ COVID‑19 vaccine candidate, in Japan. NVX‑CoV2373 is a stable, prefusion protein made using Novavax’ recombinant protein nanoparticle technology and includes Novavax’ proprietary Matrix‑M™ adjuvant. Takeda will receive funding from the Government of Japan’s Ministry of Health, Labour and Welfare (MHLW) to support the technology transfer, establishment of infrastructure and scale-up of manufacturing. Takeda anticipates the capacity to manufacture over 250 million doses of the COVID-19 vaccine per year1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200807005160/en/ “Takeda’s leading position in Japan, technical expertise,

SES S.A.: Half Year 2020 Results7.8.2020 08:30:00 EESTPress release

SES S.A. announced financial results for the six months ended 30 June 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806006164/en/ SES S.A.: Half Year 2020 Results (Photo: Business Wire) Solid H1 performance in line with expectations and continued underlying growth in Networks of +7.1% year-on-year(1,2) Revenue of EUR 947.5 million, -1.5% as reported with underlying revenue 2.4%(1,2) lower than H1 2019 Adjusted EBITDA(3) of EUR 582.0 million, -2.3% as reported (-3.5% at constant FX(2)) compared with H1 2019 and representing an Adjusted EBITDA(3) margin of 61.4% including a 2.2% year-on-year reduction in recurring operating expenses Limited COVID-19 impact in H1 reflecting business resilience with measures in place to mitigate increased headwinds in H2 2020 Updated FY 2020 group revenue outlook to EUR 1,860 - 1,900 million(4) in view of expected COVID-19 related revenue development FY 2020 Adjusted EBITDA(3) outlook

Western Union Stands in Solidarity with Lebanon6.8.2020 23:47:00 EESTPress release

Western Union, a leader in cross-border, cross-currency money movement and payments, today announced that it is offering zero-feei international money transfers paid out in U.S. dollars to Lebanon, as the country grapples with its recent tragedy amidst other economic and pandemic related threats. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806006068/en/ Western Union Stands in Solidarity with Lebanon; Money Transfers to Lebanon Zero-Fee Paid out in US Dollars (Graphic: Business Wire) “We stand in solidarity with the people of Lebanon as they confront this latest tragedy following the horrific explosion in Beirut on August 4. Our thoughts and prayers are with families of those injured and have lost their lives,” said Jean Claude Farah, President, Global Network, Western Union. Farah said: “We know the people of Lebanon will stand strong as they grapple with this latest issue amidst other pressures of economic and COVID-

Pacific Drilling Announces Second-Quarter 2020 Results; Pacific Sharav Awarded a New 10-Well Contract in U.S. Gulf of Mexico6.8.2020 23:04:00 EESTPress release

Pacific Drilling S.A. (NYSE: PACD) (“Pacific Drilling” or the “Company”) today reported results for the second quarter of 2020. Net loss for second-quarter 2020 was $87.4 million or $1.16 per diluted share, compared to net loss of $61.0 million or $0.81 per diluted share in first-quarter 2020. Pacific Drilling CEO Bernie Wolford commented, “In the second quarter, our crews and leadership continued to exemplify our commitment to safe and efficient operations, including adopting measures to manage risks associated with COVID-19 transmission, delivering exceptional results for our clients, efficiently preserving the value of our assets and significantly reducing overhead costs.” Mr. Wolford continued, “Although oil prices began to rebound during the second quarter, clients have generally reduced their drilling investments, as evidenced by Equinor’s decision to cancel the previously exercised third firm well for Pacific Khamsin, and Murphy’s decision to cancel the two well Mexico contract

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom