Buy Larsen and Toubro Infotech; target of Rs 5525: ICICI Direct

ICICI Direct is bullish on Larsen and Toubro Infotech recommended buy rating on the stock with a target price of Rs 5525 in its research report dated October 16, 2022.
18-10-2022
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Q2FY23 Quarterly Result Announced for Larsen & Toubro Infotech Ltd.

Larsen & Toubro Infotech announced Q2FY23 results: In US$: Revenue at $ 601.0 million; growth of 3.6% QoQ and 18.1% YoY Constant Currency Revenue growth of 4.6% QoQ and 21.6% YoY In Rs: Revenue at Rs 48,367 million; growth of 6.9% QoQ and 28.4% YoY Net Income at Rs 6,798 million; growth of 7.2% QoQ and 23.2% YoY Sudhir Chaturvedi, President Sales & Executive Board Member said: “We are happy to report 21.6% YoY revenue growth in constant currency. We remain excited about the proactive conversations we are having with our customers and see increased traction in the cloud and analytics space. The strength of our pipeline and our sustained net headcount addition will continue to fuel our growth” Nachiket Deshpande, Chief Operating Officer & Executive Board Member said: “We are happy to be on the last leg of the approval process for the LTI Mindtree merger and are most likely to combine forces by the end of this calendar year. The merged company will bring together complimentary portfolios and a large customer base creating extraordinary value for all stakeholders.” Result PDF
17-10-2022

L&T Infotech Q2 net profit jumps 23% to Rs 680 cr, revenue up by 28.39%

IT company Larsen and Toubro Infotech on Saturday posted an about 23 per cent increase in its consolidated net profit at Rs 679.8 crore for the quarter ended September 2022. The company had registered a net profit of Rs 551.7 crore in the same period a year ago. The consolidated revenue from operations of Larsen and Toubro Infotech (LTI) grew by 28.39 per cent to Rs 4,836.7 crore during the reported quarter from Rs 3,767 crore in the year-ago period. "We remain excited about the proactive conversations we are having with our customers and see increased traction in the cloud and analytics space. "The strength of our pipeline and our sustained net headcount addition will continue to fuel our growth," LTI President - Sales and Executive Board Member, Sudhir Chaturvedi said in a statement. The company is in the process of amalgamating Mindtree with itself, which was approved by its shareholders and unsecured creditors on August 10. LTI in its filing shared that the National Company L
15-10-2022
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Larsen & Toubro Infotech Ltd - 540005 - Results For Half Year Ended September 30, 2022

Results for half year ended September 30, 2022
15-10-2022
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