Larsen & Toubro Infotech (LTI) has posted a 27.7 per cent growth in net income and a 30.6 per cent growth in revenue in rupee terms during the April-June quarter of 2022-23 on the back of large signings during the quarter and a healthy deal pipeline.
The net profit of the IT firm during the quarter was Rs 634.4 crore compared with Rs 496.8 crore in the corresponding quarter a year ago.
Revenue during the quarter was Rs 4,522.8 crore compared with Rs 3,462.5 crore in the year-ago period.
On a sequential basis, revenue in rupee terms grew 5.1 per cent, while net income was marginally down 0.5 per cent.
“We have closed the quarter with 4 large deals with a net TCV of $79 million,” said Sudhir Chaturvedi, president of sales and executive board member of LTI.
The company has a large deal pipeline of around $2 billion. The IT firm anticipates a strong short-term demand but is cautious about the spending by clients in 2023.
