L&T Infotech CFO Ashok Sonthalia resigns
Larsen & Toubro Infotech (LTI) on Wednesday said its chief financial officer Ashok Kumar Sonthalia has resigned from the company citing personal reasons.
“The board of directors in its meeting held on January 19, 2021, inter-alia considered the resignation of Ashok Kumar Sonthalia, CFO of the company, on account of personal reasons and accepted the same to be effective from the close of business hours of January 25, 2021, it said in a filing to the stock exchanges.
Shares of the company on Wednesday ended flat at Rs 4,092.05 on the Bombay Stock Exchange.
On Tuesday, Larsen & Toubro Infotech had reported a 37.85 per cent jump in net profit at Rs 519.3 crore for the December quarter compared with the same period a year ago, driven by a surge in revenue and margin expansion. Its revenues rose 12 per cent to Rs 3,152.8 crore for the December quarter, as against Rs 2,811 crore a year ago. Revenues in US dollar terms showed a growth of 5.8 per cent sequentially to $ 427.8 million.
“This has been driven by healthy growth momentum across our portfolio. We continue to see strong demand for cloud-based IT solutions. Our tier 1 level partnership with the hyperscalers enables us to work closely on client outcomes and go-to-market opportunities,” Sanjay Jalona, Chief Executive Officer & Managing Director, LTI said while commenting on its performance during the period.