Larsen and Toubro (L&T) Infotech on October 15 declared its financial results for the quarter ending September 30, 2022 (Q2FY23). The company's net profit climbed 23 percent to Rs 680 crore while the consolidated revenue from operations rose 28.39 percent to Rs 4,836.7 crore.
In the year-ago period, L&T Infotech had reported a net profit of Rs 551.7 crore, whereas, the revenue from operations had stood at Rs 3,767 crore.
In US dollar terms, the company clocked a revenue of $601 million in Q2FY23, which marked a 3.6 percent growth as compared to the previous quarter, and an 18.1 percent growth as against the corresponding period of the past fiscal.
The constant currency revenue growth was 21.6 percent year-on-year and 4.6 percent quarter-on-quarter, the company added.
Also Read | What potential merger of Mindtree and L&T Infotech means
“We are happy to report 21.6 percent 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," Sudhir Chaturvedi, President Sales and Executive Board Member of L&T Infotech said.
The company's Chief Operating Officer Nachiket Deshpande noted that the L&T Infotech-Mindtree merger is on the "last leg of the approval process", and both the entities are "most likely to combine forces by the end of this calendar year".
"The merged company will bring together complimentary portfolios and a large customer base creating extraordinary value for all stakeholders," he said.
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