Larsen & Toubro Infotech Ltd. (LTI), a technology consulting and digital solutions company, for the Q4 FY20 reported revenue of $409.9 million, up 15.9% from the same period of the previous year.
During the quarter, the constant currency revenue growth was 17.4% YoY.
In Indian rupees the company reported revenue of ₹3,011.9 crore; a growth of 21.2% YoY.
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Net income was at ₹427.5 crore, up 12.9% YoY.
For the full year (FY20) the company reported US Dollar revenue at $1,524.7 million; a growth of 13% YoY.
Constant currency revenue growth was 14.2% YoY.
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In Indian rupees the company reported revenue at ₹1,0878.6 crore; growth of 15.2% YoY.
Net income was at ₹1,520.5 crore, up 0.3% YoY.
The company has announced a final dividend of ₹15.5 per share.
Commenting on the results Sanjay Jalona, Chief Executive Officer & Managing Director, LTI said, “We are extremely proud of the strong work ethic of LTItes who rose to the challenge of an unparalleled global pandemic, exceeding client expectations and earning their trust.”
“Our resilient business model, comprehensive digital transformation capabilities and flawless execution helped us to deliver fourth consecutive year of industry leading double-digit revenue growth in FY20,” he said.
During the quarter the company bagged two large deals with net-new TCV in excess of $100 million, culminating in 8 large deal wins in FY20.
“With strong order wins, healthy revenue momentum and client centric growth strategy, we shall confront near term demand challenges and emerge stronger,” he added.
He said “Even though this has been a very difficult time, it is heartening to witness the agility of the tech sector in response to COVID-19. Entire industry quickly adjusted to ensure seamless delivery to clients.”
“Our people are our biggest strength. Their relentless client-centricity and determination to deliver outcomes has helped us ensure continuity in these turbulent times,” he added.
He said in FY 21 the company will continue to grow in line with the industry’s growth rate.