Moneycontrol
Last Updated : Oct 26, 2018 01:49 PM IST | Source: CNBC-TV18

L&T Infotech expects FY19 growth to top FY18's

L&T Infotech reported 46.7 percent rise in consolidated net profit to Rs 400.3 crore for the quarter ended September 2018.

CNBC TV18 @moneycontrolcom

After L&T Infotech reported a 46.7 percent rise in consolidated net profit to Rs 400.3 crore for the quarter ended September 2018, it said growth in FY19 would be better than FY18.

In an interview to CNBC-TV18, Sanjay Jalona, managing director and chief executive officer, said, "The last two quarters were good. We are confident of bouncing back in subsequent quarters and also growing faster than company growth for the year."

The company registered a net profit of Rs 273 crore in the same period a year ago, L&T Infotech said in a statement. Its revenue was up 33.1 percent to Rs 2,331.2 crore in the reported quarter from Rs 1,750.8 crore in the year-ago period.

Talking on margin growth, Jalona said, "The improvement of 190 basis points came from rupee depreciation and positives of 60 basis points as the company did not have to spend on visas expenses. The rest of it came from efficiencies across many levers. 140 basis points negative was because of wage hikes."

 

Source: CNBC-TV18
First Published on Oct 26, 2018 12:22 pm
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