LTI USD Revenue Growth Up 8.4% QoQ and 13.7% YoY; Digital Revenues at 41%
Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY20 results today.
In US Dollars:
- Revenue at USD 394.4 million; growth of 8.4% QoQ and 13.7% YoY
- Constant Currency Revenue growth of 8.3% QoQ and 14.2% YoY
In Indian Rupees:
- Revenue at Rs 28,111 million; growth of 9.4% QoQ and 13.7% YoY
- Net Income at Rs 3,767 million; growth of 4.6% QoQ and 0.3% YoY
“Our outstanding QoQ growth of 8.4% in Q3 is a result of on-track ramp up of large engagements we announced earlier. We are extremely pleased with the superior and broad-based performance across verticals and service offerings, which underscores the resilience of our diversified portfolio. Our strategy and investments for powering the breakaway enterprise is resonating well with our clients. We continue to win large deals across regions and have won two such engagements in Q3 with cumulative net-new TCV of more than US$75 mn.”
- Sanjay Jalona, Chief Executive Officer & Managing Director, LTI
Recent Deal Wins
- Multi-year, multi-million large deal for transforming the global application operations of a smart energy storage solution provider
- An apex government body selected LTI to create a conceptual framework on Data Management, integrating and harmonizing the available data sets in various key sectors through single window system for better governance
- A Leading US based Insurance Company chose LTI as a Strategic Partner to implement a multi-year digital transformation initiative focused on improving their products, distribution and infrastructure
- LTI has been chosen by a public development authority for implementation of Next Generation Digital Platform to enhance efficiency of their transportation systems
- Awarded an end-to-end enterprise data estate transformation deal by a global leader in energy storage
- A Multinational conglomerate engaged LTI to deliver AI enabled preventive maintenance and Cloud hosted monitoring solutions for users of its data storage solutions
Client Testimonial
“Carestream selected LTI as strategic partner for applications management based on technology experience, geographic coverage and cultural match of the company. LTI quickly took the responsibility to support a global business and maintained high level of service performance throughout the transition. We value the unwavering focus on customer satisfaction throughout the organization.”
- Bruce Leidal, Chief Information Officer, Carestream Health, Inc.
Awards and Recognitions
- LTI ranked as HFS Top 10 IoT Service Providers 2019
- LTI positioned as a Major Contender and Star Performer in Everest Group Application and Digital Services in Banking – Services PEAK Matrix™ Assessment 2020
- LTI recognized in Gartner’s Competitive Landscape: Robotic Process Automation Service Providers Arup Roy, Cathy Tornbohm, 24 October 2019
- LTI positioned as a Strong Performer in The Forrester Wave™: SAP Services Providers For Midsize Enterprises, Q4 2019
- LTI recognized as one of the Sample vendors for AI-enhanced claims processing in The Forrester Tech Tide™: Digital Claims Management, Q4 2019
- LTI featured as a Major Contender in Everest Group Talent Readiness for Next-generation IT Services PEAK Matrix™ Assessment 2020
*Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose
Other Business Highlights
- LTI is now amongst the global exclusive list of AWS partners with SAP Competency
- LTI completed the acquisition of 100% shareholding of Powerupcloud and it is now a wholly owned subsidiary of LTI
About LTI
LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 420 clients succeed in a converging world. With operations in 32 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 30,000 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
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Contact information
Media Contacts:
Shambhavi Revandkar
PR & Media Relations - India
+91-9769509545
shambhavi.revandkar@lntinfotech.com
Karin Bakis
PR & Media Relations - USA
+1-978-998-1578
karin.bakis@lntinfotech.com
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