Larsen & Toubro Infotech has reported a 2.6 percent fall in its consolidated net profit at Rs 416.4 crore for the first quarter ended June 2020. The company had posted a net profit of Rs 427.5 crore during quarter ended March 2020.
Revenue shed 2.1 percent to Rs 2,949.2 crore versus Rs 3,011.9 crore, QoQ.
Here are the highlights of Larsen & Toubro Infotech's Q1 FY21 earnings call compiled by Narnolia Financial Advisors
Management Participants: Mr. Sanjay Jalona- CEO & MD, Mr. Nachiket Deshpande- COO, Mr. Ashok Kumar- CFO, Mr. Sudhir Chaturvedi- President sales
Framework with a strong focus on growth innovation and teamwork. At the core of this framework ability to work closely with clients will drive cost functional paradise ship needed to help their goals quickly.
The company’s canvas was launched by management recently this initiative brings to life and everything from home framework. This will help to not only operational from home but also growing from home.
The canvas in an integrated platform in partnership with Microsoft and rise technology and business outcome when teams are distributed in a very distributed environment.
It consolidates capability across cloud, agile, design thinking leveraging AIML and analytics.
Increasing resilience in operations XFH model has been very attractive productivity improvement has been seen and learnt and adapted to the new model.
Currently 99% operations are WFH, all locations are shut down and reduce on the short notices as well.
Management has launched LTI safe radius GDP and compliant return to work app enable to analyze information across locations.
Currently several employee are using this app and the same is offered to clients as well.
Management has offered some of its client’s specific time bound concessions which will enable them to continue their IT programs with us.
These concessions are one time discounts which will revert to the earlier commercial.
Multiyear deal with a net new logo worth $ 20 million has been the wealth management firm to provide cyber security, remote infrastructure support.
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