LTI Constant Currency Revenues Grow 10.6% YoY; Net Profit Up
MUMBAI, India, July 16, 2020 /PRNewswire/ -- Larsen & Toubro Infotech (BSE code: 540005) (NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY21 results today.
In US Dollars:
- Revenue at USD 390.3 million; decrease of 4.8% QoQ and growth of 9.5% YoY
- Constant Currency Revenue decrease of 4.7% QoQ and growth of 10.6% YoY
In Indian Rupees:
- Revenue at INR 29,492 million; decrease of 2.1% QoQ and growth of 18.7% YoY
- Net Income at INR 4,164 million; decrease of 2.6% QoQ and growth of 17.1% YoY
"COVID-19 is a crisis unlike any other and its impact on lives and livelihoods continues to be felt across the world. I am extremely proud of our LTItes who have stood together during these times ensuring client deliveries.
"In a quarter marked by a challenging environment, we have delivered revenue growth of 10.6% YoY in constant currency and closed a large deal as well.
"We remain committed to exceeding client expectations in the face of this unprecedented pandemic while prioritizing the health and well-being of our people."
- Sanjay Jalona, Chief Executive Officer & Managing Director
Recent Deal Wins
- A U.K. based wealth management firm, has selected LTI for a multi-million, multi-year deal to provide remote infrastructure support, modern cyber security services and migration to IBM Power Cloud from their legacy wealth management platform
- LTI has been chosen by a leading American aerospace company to provide managed services for its data center as well as to enable migration for its on-premise infrastructure to Cloud
- A leading debt management company in Europe has selected LTI to implement a digital integration platform powered by MuleSoft. This platform will replace the existing legacy service layer and integrate all the current and future applications across its 11 countries of operation
- A producer and distributor of petrochemicals has selected LTI to be its sole partner for an application support contract
- The OTT services subsidiary of a leading diversified entertainment and media enterprise has selected LTI for enhancements required on its rights management platform
- LTI executed a license sale agreement for its MOSAIC platform with an American manufacturer of vertical transportation systems
- One of the world's largest oilfield services company, has selected LTI for platform management services for next generation devops
- A medical devices manufacturing company has chosen LTI for a managed services deal
- A provider of insurance coverage for trucking fleets as well as public transportation has chosen to partner with LTI on its transformation journey involving data managed services as well cloud migration services
- A leading IT management services company decided to partner with LTI on a managed infrastructure services deal
- A leading provider of heating and cooling solutions has selected LTI for its information security solutions
Awards and Recognitions
- LTI recognized in Forrester's Now Tech: Oracle Apps Implementation Services Providers, Q2 2020
- LTI recognized as a Rising Star for Managed Application Services in the ISG Provider Lens™ Salesforce Ecosystem Partners 2020 US Report
- LTI recognized as a Leader for Office 365 Integration in the ISG Provider Lens™ Microsoft Ecosystem 2020 US Report
- LTI featured as a Major Contender and Star Performer in Everest Group BFS Risk and Compliance IT Services PEAK Matrix® Assessment 2020: Building Cloud-based Data Infrastructure for Intelligent Real-time Controls
- Powerupcloud, a subsidiary of LTI, has been selected as one of the global launch partners of Amazon Web Services (AWS) Outposts – an initiative in hybrid cloud computing and Amazon Forecast
Other Business Highlights
- LTI launched an Accelerated Migration Program for customers of SAP with Amazon Web Services (AWS) reflecting its highest standards of knowledge in the functional and technical aspects of AWS cloud migration for SAP solutions
- LTI launched Canvas, an integrated platform in partnership with Microsoft, that brings together various processes, tools and methodologies to drive technology and business outcomes for teams operating in a distributed environment
- LTI introduced SafeRadius, a GDPR-compliant return-to-work app to ensure workforce well-being and enhance operational efficiency as employees return to work
- LTI was recognized as one of the top 5 IT brands in India as well as Top 100 brands in the country as per "India 100 2020" report by Brand Finance, an independent brand valuation consultancy
- LTI has become a signatory to the UN Women's Empowerment Principles (WEPs) demonstrating commitment towards gender-responsive business practices and creating equal opportunity at the workplace as well as among communities globally
LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 400 clients succeed in a converging world. With operations in 31 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 unrivalled 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.