Net profit for L&T Infotech’s second quarter climbs 23% to 680 crore.

Global technology consulting and digital solutions provider Larsen & Toubro Infotech has released its Q2 FY23 results. For the quarter that ended in September 2022, the company declared a total net profit of Rs. 6,79.8 crore, up more than 23% YoY from the Rs. 551.70 Cr. reported in the same period last year.

In comparison to the same quarter last year, Larsen and Toubro Infotech’s (LTI) consolidated revenue from operations increased by 28.39% to Rs 4,836.7 crore. The company’s total expenses in Q2FY23 were Rs 4074.70 Cr, up from Rs 3136.20 Cr in the same period previous year, representing a YoY growth of 29%. The company’s profit before tax (PBT) increased by 21% year over year (YoY) to 901.30 crores in the second quarter of FY23 from the prior quarter’s record of 742 crores. The company’s profits per share (EPS) increased from 31.50 in the same quarter previous year to 38.75 in Q2FY23.

“We are happy to report 21.6% YoY revenue growth in constant currency. We remain excited about the proactive conversations we are having with our customers and see increased traction in the cloud and analytics space. The strength of our pipeline and our sustained net headcount addition will continue to fuel our growth,” said Sudhir Chaturvedi, President Sales & Executive Board Member.

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