Larsen and Toubro Infotech, the software program companies arm of L&T group, concluded the monetary yr 2018-19 with 36.2 per cent development in consolidated internet revenue at Rs 1,515.5 crore from Rs 1,112.four crore in final fiscal.
“The consolidated income for the fiscal stood at Rs 9,445.eight crore, up 29.2 per cent, in comparison with Rs 73,065 crore within the earlier yr,” L&T Infotech stated in a submitting to the Bombay Inventory Change.
Throughout the January-March quarter, the corporate posted a 30.eight per cent development in its consolidated internet revenue at Rs 378.50 crore as towards Rs 289.40 crore in the identical quarter final yr.
The corporate’s income climbed 24.2 per cent to Rs 2,486 crore throughout Q4FY19 as in contrast with Rs 2,001.2 crore in Q4FY18, helped by sturdy development in banking and monetary companies and insurance coverage enterprise.
Commenting on earnings quantity, L&T Infotech CEO & MD Sanjay Jalona stated, “We’re joyful to ship a robust 21 per cent YoY income development in a quickly altering business surroundings. Our sharp deal with amplifying enterprise outcomes for our shoppers is resonating nicely and enabling us to win persistently.”
“We’re additionally happy to announce two giant offers in This fall with cumulative net-new TCV in extra of US$100 million. We stay targeted on constructing differentiated capabilities and serving to our clients with their digital transformation,” he added.
The corporate’s board has really useful a last dividend of 15.50 per share of Rs 1 for the monetary yr ended March 31, 2019. Complete dividend for FY19 was Rs 28 per fairness share, together with the interim dividend of Rs 12.5 per fairness share declared in October 2018, it added.
In a separate improvement, the corporate’s board has appointed Nachiket Deshpande, Chief Working Officer of the Firm, as a Complete-time director of the corporate for a interval of 5 years with impact from Might 2, 2019, until Might 1, 2024, topic to shareholders approval on the ensuing Annual Basic Assembly of the corporate.
Larsen and Toubro Infotech shares closed at Rs 1,721.55 a chunk, up 0.48 per cent, on the BSE on Thursday.
Edited by Chitranjan Kumar