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23
Monday
January 2017

LTI posts robust 3.8% QoQ revenue growth in constant currency; Net Profit jumps 6.6% QoQ

Mumbai, India:January 23, 2017: L&T Infotech (BSE code: 540005, NSE: LTI), (LTI), a global IT services and solutions provider, announced its Q3 FY17 results today.

In US Dollars:

  • Revenue at USD 245.1 million; growth of 2.3% QoQ and 9.0% YoY
  • Constant Currency Revenue growth of 3.8% QoQ and 10.3% YoY

In Indian Rupees:

  • Revenue at Rs 16,667 million; growth at 4.0% QoQ and 12.1% YoY
  • Net Income at Rs 2,480 million; Net Income growth at 6.6% QoQ and 10.5% YoY

Our robust growth in this quarter is a result of our investments in digital technologies and strong emphasis on client success. We grew 3.8% sequentially in constant currency. Q3 saw us win three large deals with cumulative net-new TCV in excess of US$ 100 Mn. These deals are in the areas of infrastructure operations and transformation, ERP transformation-on-the-cloud and upstream application portfolio management. We expect this momentum to continue as global companies are looking for client centric and nimble services partners that can deliver outcomes quickly

- Sanjay Jalona, Chief Executive Officer & Managing Director

Recent Deal Wins:

  • Multi-year infrastructure operations and transformation engagement for an international institution.
  • Multi-year deal from a Fortune 10 energy corporation for upstream applications portfolio management.
  • Multi-year, multi-million deal from a French transnational company with operations in more than 40 countries for ERP transformation-on-the-cloud.
  • Applications management & analytics in the areas of treasury, risk management and compliance for a US based global investment banking & financial services corporation.
  • Engagement with a Nordic financial services company in the area of Blockchain technology for enhancing data security in online transactions.
  • Robotic Process Automation for a US based global leader in automotive seating.
  • Establishing a unified digital workplace for a leading multinational upstream Oil & Gas company.
  • Strategic HR Transformation program using SAP Fiori technology for a US based worldwide consumer products company.
  • Multi-year SAP managed services engagement for a US based multinational diversified conglomerate

Client Testimonial:

"We partnered with LTI more than ten years ago and the relationship has grown continuously. We wanted a partner focused on our needs, a partner who worried about our issues and got excited about our success. That is what we call client centricity and that is what we experience with LTI."

Mikael Spliid, Head of WMO IT Solutions, Nordea

Partner Testimonial:

"I'm very excited about our partnership with LTI to deliver invisible infrastructure to customers worldwide. Large enterprises will be delighted by the 1-click experience where simplicity and security are not a zero-sum game."

Dheeraj Pandey, Founder, CEO & Chairman, Nutanix

Other Business Highlights

  • LTI joined the Nutanix partner network
  • LTI joined the Global Alliance Program of Duck Creek Technologies
  • LTI completed the acquisition of AugmentIQ
  • LTI launched MOSAIC Experience Center at its head-quarter in Powai, Mumbai to showcase MOSAIC solutions to accelerate digital transformation
  • Ashok Sonthalia has been recognised as CFO of the year 2016 for IT industry by Institute of Chartered Accountants of India

Awards and Recognitions:

  • Named by ISG as one of Americas Sourcing Standouts and one of the Top Service Providers in the Breakthrough 15 list of the Global ISG IndexTM​
  • Positioned as a Leader in The Forrester Wave™: Application Outsourcing Capabilities of Midsize Offshore Vendors, Q4 2016​
  • Positioned as a Major Player & Star Performer in Everest Group’s Insurance AO PEAK MatrixTM 2016​
  • Positioned as a Major Player in the IDC MarketScape: Worldwide Life Science Manufacturing and Supply Chain Digital Transformation 2016 Vendor Assessment (Doc #US40510516, Sep 2016)​
  • Positioned as 'Major Contender' in Everest Group’s Big Data & Analytics Services in Global Banking PEAK MatrixTM 2016​
  • Positioned as a 'Major Contender' in Everest Group’s Digital Services PEAK MatrixTM Assessment, 2016​
  • Cited as a "Contender" in The Forrester Wave™: B2C Mobile Services Providers, Q4 2016​

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CIN : U72900MH1996PLC104693