Larsen and Toubro Technology Services posted a mixed set of number for the fourth quarter ended March 31. The constant currency growth was strong but currency impacted the rupee revenues and the margins.
Managing Director and CEO Keshab Panda of the company said the dollar revenues were impacted by USD 2.7 million on account of rupee appreciation in the quarter and margins due to the impact on topline.
The constant currency revenue growth was 3.1 percent quarter on quarter (QoQ). The margins dropped 150 basis points.
However, going forward he is confident of double-digit growth in FY18.
Talking about the acquisition of US-based Esencia Technologies in an interview to CNBC-TV18, he said it is valued at USD 27 million and the company would pay USD 15 million upfront and the rest USD 12 million would be paid over four years.
He also said that the company had recently signed the biggest deal, which will contribute to revenues in the second quarter of FY18.
For full interview, watch video
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