Larsen and Toubro Infotech, the software services arm of L&T group, ended the financial year 2018-19 with 36.2 per cent growth in consolidated net profit at Rs 1,515.5 crore from Rs 1,112.4 crore in last fiscal.
The consolidated revenue for the fiscal was at Rs 9,445.8 crore, up 29.2 per cent, compared to Rs 73,065 crore in the previous year said L&T Infotech, in a filing to the Bombay Stock Exchange.
During the January-March quarter, the company posted a 30.8 per cent growth in its consolidated net profit at Rs 378.50 crore as against Rs 289.40 crore in the same quarter last year.
The company’s revenue was up 24.2 per cent to Rs 2,486 crore during Q4FY19 as compared with Rs 2,001.2 crore in Q4FY18, because of robust growth in banking and financial services and insurance business.
Speaking on earnings number, L&T Infotech CEO & MD said that they are happy to deliver a strong 21 per cent YoY revenue growth in a rapidly changing industry environment. They have shifted their focus on amplifying business outcomes for their clients are resonating well and helping them win.
They are also pleased to announce two large deals in Q4 with cumulative net-new TCV in excess of US$100 million. They have also decided to build different capabilities and help their customers with the digital transformation, he added.
The company’s board has recommended a final dividend of 15.50 per share of Rs 1 for the financial year ended March 31, 2019. Total dividend for FY19 was Rs 28 per equity share, including the interim dividend of Rs 12.5 per equity share declared in October 2018, it added.
Among other news, the company’s board has appointed Nachiket Deshpande, Chief Operating Officer of the Company, as a Whole-time director of the company for a period of five years with effect from May 2, 2019, till May 1, 2024, subject to shareholders approval at the ensuing Annual General Meeting of the company.
Larsen and Toubro Infotech shares closed at Rs 1,721.55 a piece, up 0.48 per cent, on the BSE on Thursday.
