Tag: informationtechnology

Shares of L&T Technology Services (LTTS) zoomed 19 percent to a record high of Rs 3,471.95 on the BSE in intra-day trade on Thursday after the company reported better-than-expected June quarter (Q1FY22) results. The company's net profit surged 84 percent year-on-year in the June quarter as its profit came in at ₹ 117.3 crores in the corresponding period of the previous fiscal year. The technology services company's revenue from operations during the quarter stood at ₹ 1,518 crores, compared to ₹ 1,294.7 crores in the year-ago period, marking a growth of 17 percent annually, according to a regulatory filing by the firm to the stock exchanges. The company said that it could expand the margins because of levers like higher digitalization, he said adding that the quantum of work done offshore has also increased to 58 percent of the billing as against 50 percent before the pandemic. Read more

Shares of Mindtree surged 9 percent to hit a new high of Rs 2,721 on the BSE in intra-day trade on Wednesday after the information technology (IT) consulting and services company reported a healthy set of numbers for the quarter ended June 2021. Mindtree's Q1 net profit rose to ₹343.3 crores, up reported a 61% YoY and 8% QoQ. Its revenue in dollar terms came at $310.5 million, witnessing a growth of 7.7% quarter-on-quarter (QoQ) and 22.6% YoY. The IT company recorded its highest-ever order book of half a billion US dollars, a growth of 34% QoQ. The company said it is witnessing broad-based growth across industries and services and that its deal pipeline continues to remain strong. “We are pleased to report a strong start to FY22 with broad-based first-quarter growth across all service lines and industry segments," said Debashis Chatterjee, chief executive officer, and managing director, Mindtree. Read more