L&T Infotech on Tuesday reported that its consolidated net profit grew 17 per cent to Rs 637 crore during the January-March 2022 quarter. The company’s net profit stood at Rs 545 crore during the same period a year ago. At the same time, the revenue from operations grew 32 per cent year-on-year to Rs 4,301 crore during the March 2022 quarter of the last fiscal, as against Rs 3,269 crore in the year-ago period.
Final dividend of Rs 30 on one equity share
The company’s board has recommended a final dividend of Rs 30 per equity share for the financial year 2021-22. Shares of L&T Infotech closed 8.32 per cent lower at Rs 5,385 on the National Stock Exchange on Tuesday. Sanjay Jalona, CEO, L&T Infotech said, “We are very happy to cross $2 billion in revenue in FY 2022 with a record growth of 26%. This is our strongest performance since listing.
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The company’s revenue grew by 27 percent in dollar terms
L&T Infotech’s fourth quarter revenue in dollar terms grew 27 per cent over the previous year to $570 million. At the same time, the constant currency revenue growth has been 29 percent. Bloomberg reported on Monday that Larsen & Turbo (L&T) is exploring a merger between two of its publicly traded software firms Mindtree and L&T Infotech. L&T had acquired control of Mindtree in 2019. L&T holds about 61 per cent stake in the company, which has a market value of around $8.3 billion. At the same time, the company’s stake in L&T Infotech is only about 74 percent and its market capitalization is about $ 13.6 billion.
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