Business Wire

LTI USD Revenue Growth up 11.5% YoY; Digital Revenues at 39%

Share

Larsen & Toubro Infotech (BSE: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY20 results today.

Q1 FY20

In US Dollars:

  • Revenue at USD 356.5 million; growth of 0.8% QoQ and 11.5% YoY
  • Constant Currency Revenue growth of 1.0% QoQ and 12.9% YoY

In Indian Rupees:

  • Revenue at Rs 24,849 million; growth was flat QoQ and 15.3% YoY
  • Net Income at Rs 3,557 million; growth of (6.1%) QoQ and (1.5%) YoY

“We delivered 12.9% YoY revenue growth in constant currency driven by Digital Services that now make up 39% of our revenues. We also won a large deal by opening a new client logo in Insurance vertical with net-new TCV of US$44m.

We are also pleased to welcome Lymbyc to LTI family. Lymbyc is a specialist AI, machine learning, and advanced analytics company. The acquisition further strengthens LTI’s Mosaic platform and our fast-growing digital and analytics offerings.”

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

Recent Deal Wins

  • A US based insurance company, a new logo has selected LTI for a multi-year, multi-million dollar managed services deal for its IT infrastructure and IT security operations
  • Selected as the strategic partner by Deutsche Telekom for their strategic Microsoft Cloud Acceleration Centre initiative in Central and Eastern Europe
  • A world leader in medical products chose LTI for a managed services deal covering 100+ applications across its global operations to make its IT landscape lean, cloud first and digital ready
  • Selected as the exclusive strategic partner by a leading investment management Company for its AI and automation driven digital transformation journey
  • A leading Japanese electrical and software company selected LTI for SAP Application Management Services engagement
  • A global bank selected LTI for cloud based digital transformation of its wealth management applications
  • Selected by a leading security services firm for implementing financial analytics and reporting tool

Client Testimonial

“Deutsche Telekom has selected LTI as their trusted partner for the joint Microsoft Cloud initiative in Central Eastern Europe. We are convinced that LTI’s experience with cloud migration will further empower the digital transformation in the region. We are looking forward to pave the customers’ digital journey together with LTI.”

- Ralf Nejedl, Senior Vice President B2B Growth Europe, Deutsche Telekom AG

“LTI has been a strategic partner to Velliv and continuously strives to deliver business benefits. In the past 4 years, LTI has been instrumental in strategic transformation of our core business applications. LTI has also been proactive in setting up the critical test automation processes across Velliv application domains.”

- Jakob Andersen, CIO, Velliv

Awards and Recognitions

  • LTI ranked as a Leader in AI Based Automation Capability in Software Testing Services: AI and Digital NextGen Testing NelsonHall NEAT report 2019
  • LTI’s Digital Transformative Agribusiness case study recognized in ISG’s Global Digital Excellence: 25 Winning Partnerships Book
  • LTI ranked number 5 in HFS Top 10 Energy Service Providers 2019
  • LTI named in Honorable Mentions in the Gartner, Magic Quadrant for Data and Analytics Service Providers, Worldwide, 2019

*Gartner, Magic Quadrant for Data and Analytics Service Providers, Worldwide, 2019, Jorgen Heizenberg et al., 12 February 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 Lymbyc, a specialist AI, machine learning, and advanced analytics company. The acquisition further strengthens LTI’s fast-growing digital and analytics offerings.
  • Guidewire Software announced LTI as new consulting alliance partner
  • LTI is now a constituent of the FTSE4Good Index Series following the June 2019 index review.

*Larsen and Toubro Infotech satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.

About LTI :

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 350 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 28,000 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

c-LEcta: Successful Product Business in the First Half of 201922.8.2019 11:06:00 EESTPress release

c-LEcta, a globally active biotechnology company with technology leadership in enzyme engineering and bioprocess development, successfully expanded its product business in the first half of 2019. Besides sales increases across the entire portfolio, the company was granted many new patents. While the patent portfolio still comprised 59 granted patents at the end of the first half of 2018, the Leipzig-based company now holds more than 80 patents. c-LEcta’s DENARASE®, which is used for the necessary removal of nucleic acids from biopharmaceutical products, performed particularly well. DENARASE® is the most efficient technology on the market for meeting the stringent regulatory requirements for biopharmaceutical products. Sales of this product increased by 164% year-on-year in the first half of 2019. The other products in c-LEcta’s portfolio also performed very well and contributed to the positive development of the product business. c-LEcta now markets its self-developed products in 25 co

MobileIron Named a Leader Again in the Second Gartner Magic Quadrant for Unified Endpoint Management Tools22.8.2019 10:00:00 EESTPress release

MobileIron (NASDAQ:MOBL), the company that introduced the industry’s first mobile-centric, zero trust platform for the enterprise, today announced that it has been positioned as a Leader for the second consecutive year in the Gartner Magic Quadrant for Unified Endpoint Management Tools. The report evaluated 11 vendors based on completeness of vision and ability to execute. “To us, it’s an honor to be recognized once again as a Leader in Gartner’s Magic Quadrant for Unified Endpoint Management Tools,” said Simon Biddiscombe, CEO, MobileIron. “We have continued to innovate and expand upon our UEM platform to keep up with the demands of today’s digital businesses. Earlier this year, we introduced a revolutionary zero sign-on experience to eliminate passwords and make the world’s most ubiquitous product – the mobile device – your ID and secure access to the enterprise built on our leadership foundation in UEM. Mobile and cloud technologies have driven a dramatic change in organizations acr

Miracor Medical Granted FDA Breakthrough Device Designation for the PiCSO Impulse System22.8.2019 09:00:00 EESTPress release

Miracor Medical SA (Miracor Medical) has been granted Breakthrough Device Designation by the U.S. Food and Drug Administration (FDA) for its PiCSO® Impulse System for treatment of STEMI patients. The FDA Breakthrough Device designation is intended to speed time to market for treatments of life-threatening or irreversibly debilitating diseases or conditions and recognizes the novelty of the PiCSO Impulse System and its potential to benefit patients with anterior STEMI heart attacks. The Centers for Medicare & Medicaid Services (CMS) also recently acknowledged the importance of this designation by establishing an alternative reimbursement pathway for products that receive FDA marketing authorization and held the Breakthrough Designation. PiCSO therapy is provided by interventional cardiologists during PCI (Percutaneous Coronary Intervention) in patients experiencing ST-elevated myocardial infarction (STEMI). The PiCSO Impulse System clears the coronary microcirculation by intermittently

Mori Building Unveils Massive Urban Regeneration Project in Central Tokyo22.8.2019 07:00:00 EESTPress release

Mori Building Co., Ltd., a leading urban landscape developer, has begun construction on its “Toranomon-Azabudai District Category 1 Urban Redevelopment Project,” a massive urban regeneration project aimed at revitalizing a large area of central Tokyo. A groundbreaking ceremony was held on August 5 and project completion is scheduled for the end of March 2023. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190821005445/en/ Image of Office Lobby (Graphic: Business Wire) The core concept of the Toranomon-Azabudai Project is that of a “Modern Urban Village,” a unique neighborhood that will combine the sophistication of a megalopolis with the intimacy of a small village in the heart of Tokyo. It will cover an area of approximately 8.1 hectares, similar to that of New York’s Rockefeller Center, and will feature extensive greenery totaling 24,000 m2 including a 6,000 m2 central square. Total floor area will be 860,400 m2, including

Mundipharma Announces the Licence Extension Submission for Invokana® (canagliflozin) and Vokanamet® (canagliflozin and metformin) to the European Medicines Agency22.8.2019 02:01:00 EESTPress release

STRICTLY FOR EUROPEAN MEDICAL AND PHARMACEUTICAL TRADE MEDIA ONLY As the European distributor of Invokana® (canagliflozin) and Vokanamet® (canagliflozin and metformin), Mundipharma welcomes the news that the European Medicines Agency (EMA) has accepted the licence extension submission for these two medicines to treat stage 2 or stage 3 chronic kidney disease (CKD) and albuminuria as an adjunct to standard of care in adults with type 2 diabetes mellitus (T2DM). The submission is based on the results from the landmark Phase III CREDENCE study1 which evaluated the efficacy and safety of canagliflozin versus placebo in this high-risk patient population when used in addition to standard of care. “Chronic kidney disease is a serious complication of type 2 diabetes, which can increase patients’ risk of developing end-stage renal disease and may reduce their life expectancy by several years.” said Dr Vinicius Gomes de Lima, European Medical Affairs Lead, Mundipharma. “If approved, this licence

Triton Digital Releases Webcast Metrics Rankings for the Top Digital Audio Properties for April 201921.8.2019 23:00:00 EESTPress release

Triton Digital®, the global technology and services leader to the digital audio and podcast industry, released today its monthly Webcast Metrics® rankers for April 2019. The global rankers, in addition to the U.S., LATAM, and EMEA regional rankers provide insight into the top-performing streaming audio stations and networks around the world for the month of April. The full results of the Global & Regional Rankers for April 2019 can be found here: https://www.tritondigital.com/resources/monthly-rankers/rankers-archive The Webcast Metrics streaming measurement service is the industry standard for online audio consumption data. It provides credible, validated data that enables audio publishers around the world to analyze the consumption of their audio content by daypart, device type, geography, distribution platform, and more. About Triton Digital Triton Digital® is the global technology and services leader to the digital audio and podcast industry. Operating in more than 40 countries, Tr

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