CORRECTING and REPLACING LTI: FY19 constant currency revenues grow 20.9%; Net Profit for the full year up 36.2%

Trucking News
2 May by Vitaliy Dadalyan

CORRECTING and REPLACING LTI: FY19 constant currency revenues grow 20.9%; Net Profit for the full year up 36.2%

MUMBAI, India–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/FinancialResult?src=hash" target="_blank"gt;#FinancialResultlt;/agt;–Under the header “Other Business Highlights,” the first sentence of the first bullet point should read: The Board of Directors at its meeting held on May 2nd, 2019 have declared a final dividend of Rs. 15.5 per equity share (Face value of Re. 1) for the financial year 2018-19 (instead of …Rs. 16.5 per equity share…).

The corrected release reads:

LTI: FY19 CONSTANT CURRENCY REVENUES GROW 20.9%; NET PROFIT FOR THE FULL YEAR UP 36.2%

Larsen & Toubro Infotech (BSE code: 540005) (NSE: LTI), a global technology consulting and digital solutions company, announced its Q4 FY19 and full year FY19 results today.

Q4 FY19

In US Dollars:

  • Revenue at USD 353.8 million; growth of 2.0% QoQ and 14.5% YoY
  • Constant Currency Revenue growth of 1.9% QoQ and 17.5% YoY

In Indian Rupees:

  • Revenue at Rs 24,860 million; growth at 0.5% QoQ and 24.2% YoY
  • Net Income at Rs 3,785 million; Net Income growth at 0.9% QoQ and 30.8% YoY

Full year FY19

In US Dollars:

  • Revenue at USD 1,349.1 million; growth of 19.1% YoY
  • Constant Currency Revenue growth of 20.9% YoY

In Indian Rupees:

  • Revenue at Rs 94,458 million; growth at 29.3% YoY
  • Net Income at Rs 15,155 million; Net Income growth at 36.2% YoY

“We are happy to deliver a strong 21% YoY revenue growth in a rapidly changing industry environment. Our sharp focus on amplifying business outcomes for our clients is resonating well and enabling us to win consistently.

We are also pleased to announce two large deals in Q4 with cumulative net-new TCV in excess of US$100 million. We remain focused on building differentiated capabilities and helping our customers with their digital transformation.”

– Sanjay Jalona, Chief Executive Officer & Managing Director, LTI

Recent Deal Wins

  • Multi-year multi-million large deal for transforming the global application operations of an engineering equipment manufacturer
  • A leading global re-insurer has selected LTI as its transformation partner to assist in modernizing its IT landscape
  • Global auto major selected LTI for implementing SAP S/4 HANA for its trading and manufacturing arm to transform its IT landscape
  • Global internet giant selected LTI to automate its HR services through RPA implementation
  • Selected by a pharma solutions company to provide technical and functional support for its application systems
  • Global oil major selected LTI to provide application, maintenance and support services
  • Awarded managed services deal for APAC operations of a US headquartered pharma major
  • Awarded JDE support services contract by a public utilities enterprise
  • Leading North American insurance broker selected LTI for digitizing its application stack

Client Testimonial

“We chose LTI because of its geographical and cultural proximity, and record of working with large international companies on projects of this scale. LTI managed to deliver the entire JDE implementation in a record time of 12 months. We are also impressed by their deep understanding of JDE, because of which they could challenge our established processes, and adapt them to the Indian context.”

– Philippe Teisseire, CFO, BIC Cello India

Awards and Recognitions

  • Tops ITS Challengers List for the second consecutive year in Everest Group’s PEAK Matrix IT Service Provider of the YearTM 2019
  • LTI has topped the Client Satisfaction Survey conducted by Whitelane Research in France, for the second consecutive year
  • LTI’s Mosaic recognized in The Forrester Tech TideTM: Enterprise Business Insights And Analytics, Q1 2019
  • Positioned as an Innovator in Avasant’s Applied AI and Advanced Analytics 2019 RadarView™
  • Named by the 1Q19 Global ISG Index™ as one of The Breakthrough 15 in Global Sourcing Standouts

Other Business Highlights

  • The Board of Directors at its meeting held on May 2nd, 2019 have declared a final dividend of Rs. 15.5 per equity share (Face value of Re. 1) for the financial year 2018-19. Total dividend for FY19 is Rs. 28 per equity share, including the interim dividend of Rs. 12.5 per equity share declared in October 2018.
  • LTI acquired NIELSEN+PARTNER (N+P), an independent Temenos WealthSuite specialist, headquartered in Hamburg, Germany. The company is well-recognized for its market-leading capabilities in Temenos WealthSuite, including Triple’ A Plus, Data Source and Channels
  • Syncordis, a wholly owned subsidiary of Larsen & Toubro Infotech (LTI), became a global services partner with Temenos
  • Ranked at #25, LTI was recognized for developing one of the Top 100 Sustainability reports worldwide in the 2017-18 Vision Awards by League of American Communications Professionals.
  • For its industry-leading growth, BTVi recognized LTI as the Most Admired Company of the Year 2018
  • The Board of Directors of the Company have appointed Mr. Nachiket Deshpande, Chief Operating Officer of the Company as a Whole-time director of the Company for a period of five years with effect from May 2, 2019 till May 1, 2024 subject to shareholders approval at the ensuing Annual General Meeting of the Company.

About LTI:

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 300 clients succeed in a converging world. With operations in 30 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivaled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 27,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.Lntinfotech.com or follow us at @LTI_Global

Connect with LTI:

Contacts

Media Contacts:

Neelian Homem
PR & Media Relations – India
+91-900-434-5540
[email protected]

Karin Bakis
PR & Media Relations – USA
+1-978-998-1578
[email protected]

This article published with permission from Business Wire

ByVitaliy Dadalyan