L&T Infotech Q1 Results FY2023: Net Income at Rs. 6344 million for Q1FY23

 L&T Infotech Q1 Results FY2023

by Shreya Anaokar Last Updated: 2022-07-15T17:14:13+05:30 IST

On 15th July 2022, L&T Infotech announced its quarterly results for the last quarter of FY2022.

Key Highlights:

In USD:

- The company reported revenue at USD 580.2 million with a growth of 1.7% QoQ and 23.4% YoY 

- The Constant Currency Revenue growth was of 2.9% QoQ and 26.6% YoY 

In INR:

- The company reported revenue at INR 45,228 million with growth at 5.1% QoQ and 30.6% YoY 

- The Net Income was reported at INR 6,344 million; a decrease of 0.5% QoQ and growth of 27.7% YoY

 

Geographical Revenue:

- For Q1FY23, the revenue from geographical presence in the European market declined by 0.8% on a QoQ basis and grew by 17.4% on a YoY basis. 

- For Q1FY23, the revenue from the geographical presence in the North American market increased by 5.5% on a QoQ basis and by 25.3% on a YoY basis. 

- In Q1FY23, the revenue from the rest of the world declined by 2.6% on a QoQ basis and increased by 2.2% on a YoY basis. 

- In Q1FY23, the revenue from the Indian market declined by 15.8% on a QoQ basis and increased by 49.9% on a YoY basis.  

Revenue by Industry:

- The constant currency revenue from BFSI grew by 7.9% QoQ and 35.9% YoY for Q1FY23.

- The constant currency revenue from Manufacturing declined by 11.5% QoQ and grew by 21.6% YoY for Q1FY23.

- The constant currency revenue from Insurance segment grew by 4.5% QoQ and by 17.7% YoY for Q1FY23.

- The constant currency revenue from Retail, CPG & Pharma grew by 1.4% QoQ and grew by 20.7 % YoY for Q1FY23.

- The constant currency revenue from High-Tech, Media, and Entertainment increased by 0.8% QoQ and 13.7% YoY for Q1FY23.

- The constant currency revenue from Energy and Utilities increased by 2.6% QoQ and grew by 21.7% YoY for Q1FY23.

- The constant currency revenue from Other segments grew by 17.8% QoQ and by 55.3% YoY for Q1FY23.

 Commenting on the results, Sudhir Chaturvedi, President Sales & Executive Board Member said: “We are pleased to report 26.6% YoY revenue growth in constant currency. We added 4 Global Fortune 500 logos to our client list in Q1, taking our total Global Fortune 500 customers to 77. We are also happy to announce 4 large deal wins during the quarter with net new TCV of US$ 79mn.” 

And Nachiket Deshpande, Chief Operating Officer & Executive Board Member said: “Our healthy pipeline will ensure that we maintain our large deal momentum. Our sustained net headcount addition reflects our confidence and continued focus to deliver strong growth in FY23”.

 


About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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