L&T Infotech share price jumps 10% on good Q4 profit
Published On: Wednesday, May 20, 2020 | By: Team KnowMyStock
Shares of Larsen & Toubro (L&T) Infotech gained 10 per cent to Rs 1,834 on the BSE on Wednesday after the firm reported a 12.9 per cent rise in net profit to Rs 427.5 crore for the quarter ended March 2020 compared to Rs 378.5 crore in the corresponding period. Revenue in Q4 stood at Rs 3,011.9 crore, up 21.2 per cent YoY against Rs 2,486 crore in the corresponding period last year. L&T Infotech reported a marginal increase of 0.3 per cent in its net profit at Rs 1,520.5 crore compared to Rs 1,515.5 crore in the previous fiscal. The company registered a revenue of Rs 10,878.6 crore, up 15.2 per cent YoY. The company's board also recommended a final dividend of Rs 15.50 per equity share of the face value of Re 1 each. The company won two large deals in Q4 with net-new TCV in excess of $100 million, culminating in a record eight large deal wins in FY20.
Sanjay Jalona, CEO and MD, L&T Infotech, said, "Our resilient business model, comprehensive digital transformation capabilities and flawless execution helped us to deliver fourth consecutive year of industry leading double-digit revenue growth in FY20.
Source: Money Control, Business Today, Business Standard
Tags: L&T Infotech profit revenue gains dividend
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
