Monday, 6 November 2017

L&T Infotech's Q2 Profit Rises 2.2% Beating Estimates



Information technology services provider L&T Infotech.'s net profit increased for the quarter ended September 2017, beating analyst estimates.

Net profit rose 2.2 percent growth to Rs 273 crore as compared to the previous quarter, the company said in a stock exchange filing today. Analysts tracked by Bloomberg had pegged the bottom line at Rs 262 crore.

Revenue for the Larsen and Toubro Ltd. (L&T) subsidiary increased 4.8 percent sequentially to Rs 1,751 crore, surpassing the Bloomberg consensus estimate of 1,723 crore.

Earnings before interest and taxes rose 5 percent to Rs 294.2 crore quarter-on-quarter while ebit margins expanded 10 basis points to 16.8 percent during that period.

Employee benefit expenses in the quarter increased 9 percent to Rs 1.07 lakh.

The company will pay an interim dividend of Rs 8 per share, according to the filing.

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