Business Wire

Larsen & Toubro Infotech Limited (LTI) Announces: Net Profit Jumps 5% QoQ; USD Revenue Growth up 2% QoQ and 12% YoY

Del

Larsen & Toubro Infotech (BSE code: 540005)(NSE: LTI), a global technology consulting and digital solutions company, announced its Q1 FY18 results today.

In US Dollars:

  • Revenue at USD 259.2 million; growth of 2.0% QoQ and 12.2% YoY
  • Constant Currency Revenue growth of 1.5% QoQ and 11.8% YoY

In Indian Rupees:

  • Revenue at Rs 16,707 million; decline of 0.4% QoQ and growth of 7.4% YoY
  • Net Income at Rs 2,672 million; Net Income growth of 5.0% QoQ and 13.3% YoY
 

“We continue our growth trajectory with a 2% QoQ increase in USD revenues, reflecting the resilience of our portfolio. Digital Services and Infrastructure Management drove Q1 growth and our outlook for the year remains positive. Digital now represents over 29% of our revenues and the client adoption of Mosaic continues to grow.

 

As we mark the first anniversary of our public listing this month, I would like to thank our investors for their continued support and confidence.”

 

- Sanjay Jalona, Chief Executive Officer & Managing Director

 

Recent Deal Wins

  • Multi-year application portfolio rationalization, production support and digital transformation deal with a Fortune 500 multi-specialty Bank and Insurance company in the US
  • US based Global CPG manufacturer selected LTI for digitizing its operations using SAP S/4 HANA
  • Multi-year Robotic Process Automation advisory and implementation deal with a global investment banking and financial services corporation spanning more than 100 countries to achieve financial and operational efficiency
  • Design and deployment of Robotics Process Automation for a Germany headquartered Re-insurance Company
  • Won multi-year deal from US based Retailer to successfully migrate its SAP infrastructure to AWS
  • A US based distributor of Auto and Industrial replacement parts has selected LTI for Automated Testing services
  • Sales Force CRM Implementation for a France based Water resources firm
  • A US based, medical devices company selected LTI for implementation and support of Cloud based Oracle ERP solution

Client Testimonial

Marcus Galafassi, Vice-President Information Technology and CIO, Otis Elevator Company, said, “Otis is committed to building a more agile, digital organization and LTI is a key strategic partner in our ERP transformation journey. As a long-standing technology partner, LTI is facilitating Otis’ transformation by supporting deployment of our new centrally managed, single global ERP solution across 19 sites this year and is partnering with us to accelerate the solution deployment to an additional 65+ countries in the next four years. With better visibility to all financial aspects, enhanced branch reporting, automated workflow approvals, and reduced IT complexity, together we are building a strong foundation for Otis’s transformation as a digital enterprise.”

AssuredPartners, a leading independent property and casualty and employee benefits brokerage firm has selected LTI as a strategic transformation partner for a program that is harmonizing infrastructure & migrating workloads of its 170+ agencies across the US, to the cloud.

“This initiative will transform our IT capabilities to be highly responsive, flexible and scalable - making technology a true growth enabler for our business,” said Tony Mattioli, CIO of AssuredPartners. “Given the importance of this program, we were looking for an IT Partner with an excellent track record in our industry and experience with executing large Infrastructure transformation programs. I am pleased to have LTI partner with us on this important initiative.”

Other Business Highlights

  • LTI has established a subsidiary in Mexico to expand our geographical footprint.
  • LTI has been elevated as an ‘ELITE’ partner of Microsoft Xamarin. This elevated status will help support LTI's mobile app development initiatives and strengthen our platforms like Mosaic Experience.
  • LTI joined the Oracle Cloud Platform Managed Partner program. The Oracle Cloud Platform Managed Partner (CPMP) Program recognizes partners with the skills and expertise to build, deploy, run, and manage both Oracle and non-Oracle workloads on Oracle Cloud Platform for PaaS as well as IaaS applications.
  • LTI and Microsoft have entered a strategic partnership to provide Blockchain-as-a-service on Azure. As a member of the Microsoft Blockchain Council, LTI is building ready to deploy Blockchain solutions across industries like finance, insurance and manufacturing. This membership is by invitation only, and will further enhance our solution offerings for Blockchain.

Awards and Recognitions:

  • LTI won the Oracle Digital Transformation award for Optimizing JD Edwards with IaaS
  • Named by ISG as an Americas Sourcing Standout and one of the Top Service Providers in the Breakthrough 15 list of the Global ISG Index™
  • LTI positioned as a ‘Leader’ in the NelsonHall NEAT 2017 for IoT Services
  • LTI is positioned as a ‘Contender’ in the IDC MarketScape: Worldwide Industry Collaborative Cloud Professional Services 2017 Vendor Assessment (doc #US41907917, June 2017)
  • LTI in the Leadership Zone in the Overall and BFS segments of, Zinnov Zones for Robotic Automation Services 2017
  • Positioned as a Major Contender and Star Performer in the Everest Group’s Independent Testing Services PEAK Matrix™ Assessment 2017
  • LTI’s Mosaic mentioned in Gartner’s Competitive Landscape of IoT Platform Vendors report for 2017, dated 26th May, 2017, Alfonso Velosa

* 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.

About LTI

LTI (NSE: LTI)(BSE: 540005) is a global technology consulting and digital solutions company helping more than 250 clients succeed in a converging world. With operations in 27 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 20 years ago as a subsidiary of the Larsen & Toubro group, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 20,000 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 www.Lntinfotech.com or follow us at @LTI_Global.

Contact information

LTI
Neelian Homem
PR & Media Relations - India
+91-900-434-5540
neelian.homem@lntinfotech.com
or
Karin Bakis
PR & Media Relations - USA
+1-978-758-3546
karin.bakis@lntinfotech.com
or
Katrina Dixon
PR & Media Relations - Europe
+44-771-475-3308
Katrina.dixon@lntinfotech.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

OTEZLA® (Apremilast) Phase III Data Showed Significant Improvements in Patients with Active Behçet’s Disease with Oral Ulcers17.2.2018 21:00Pressemelding

Celgene Corporation (NASDAQ:CELG) today announced that data from the phase III RELIEF™ clinical trial of OTEZLA® (apremilast) in patients with active Behçet’s Disease with oral ulcers were presented in a late-breaking oral presentation at the 2018 American Academy of Dermatology (AAD) Annual Meeting. The results showed statistically significant reductions in oral ulcers with apremilast 30 mg twice daily (BID) versus placebo through week 12. OTEZLA (apremilast) is Celgene’s oral selective inhibitor of phosphodiesterase 4 (PDE4). Behçet’s Disease is a rare, chronic, multi-system inflammatory syndrome. Oral ulcers, the most common manifestation of Behçet’s Disease, can be disabling and have a substantial effect on quality of life. This study primarily evaluated the effect of apremilast on recurring oral ulcers in patients with active Behçet’s Disease who were previously treated with at least one topical or systemic medication. “Reducing oral ulcers, which are painful and can negatively im

CT-P13 (biosimilar infliximab) is comparable to reference infliximab and adalimumab in highly anticipated real-world study17.2.2018 08:00Pressemelding

Twelve-month data from the Personalised Anti-TNF therapy in Crohn’s disease Study (PANTS) was presented at the 13th Congress of the European Crohn’s and Colitis Organisation (ECCO). The results indicate that the clinical effectiveness, safety and immunogenicity of Celltrion Healthcare’s CT-P13 (biosimilar infliximab) in patients with Crohn’s disease (CD) is comparable to those treated with reference infliximab as well as those treated with adalimumab.1 The UK-wide, three-year prospective observational study investigated primary non-response (PNR), loss of response (LOR) and adverse drug reactions (ADR) to infliximab (reference infliximab and CT-P13) and adalimumab in 1610 CD patients. The data show comparable efficacy between CT-P13, reference infliximab and adalimumab in relation to PNR, LOR and ADR rates. In addition, at week 54, the remission rate was 39.7%, 39.0% and 32.7% for reference infliximab, CT-P13 and adalimumab treated patients, respectively.1 The PANTS study investigates

Avanti Communications HYLAS 4 Satellite Arrives in French Guiana16.2.2018 18:26Pressemelding

Avanti Communications Group plc (“Avanti”), a leading provider of satellite data communications services in Europe, the Middle East and Africa (“EMEA”), announces its HYLAS 4 satellite has arrived safely in French Guiana ahead of its March 2018 launch. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180216005586/en/ Avanti Communications HYLAS 4 Satellite Arrives in French Guiana (Photo: Business Wire) The spacecraft, built by Orbital ATK was packed and shipped at their Satellite Manufacturing Facility in Dulles, Virginia, United States and flown to French Guiana, where it was unloaded and will be taken to the Arianespace launch facilities in Kourou. HYLAS 4 uses the latest High Throughput Satellite technology, doubling Avanti's Ka-band capacity across EMEA. The latest addition to Avanti's HYLAS fleet will provide: Backhaul services for mobile network operators Wholesale broadband for ISPs Connectivity for governments (civil a

General Cable Corporation Stockholders Approve Acquisition By Prysmian Group16.2.2018 17:05Pressemelding

General Cable Corporation (NYSE: BGC) today announced the voting results from the Company’s special meeting of stockholders held this morning. Stockholders of General Cable approved the Company’s previously announced acquisition by Prysmian Group (BIT: PRY) for $30.00 per share in cash. A total of 38,140,754 shares, representing approximately 75.34% of the total number of shares of common stock outstanding and approximately 99% of the total votes cast, were voted in favor of the merger. Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close by the third quarter of 2018. About General Cable General Cable (NYSE:BGC), with headquarters in Highland Heights, Kentucky, is a global leader in the development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, automotive, industrial, construction and specialty segments. General Cable is one of the larges

Systemic Sclerosis World Congress:Inspirational Patient Stories Reveal the Challenging Realities of Living with Devastating Rare Disease16.2.2018 09:03Pressemelding

Boehringer Ingelheim today unveils a new phase of 'More Than Scleroderma: The Inside Story', and launches the new patient website www.morethanscleroderma.com. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180216005188/en/ Anna, 36, living with scleroderma (Photo: Business Wire) The global initiative highlights the importance of understanding the ‘inside story’ of each individual living with scleroderma, also known as systemic sclerosis. To coincide with the Systemic Sclerosis World Congress in Bordeaux, 15-17 February 2018, new and truly inspiring patient stories are revealed, reflecting the real-life, diverse and very moving journeys of people living with scleroderma across the world. The campaign will also be launched in the U.S. The new website www.morethanscleroderma.com features a powerful collection of photographs and video stories of people living with scleroderma across the world, revealing the life-changing impact o

Philip Morris International Recognized as a Global Top Employer for the Second Year in a Row16.2.2018 08:00Pressemelding

Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) today is recognized for the second year in a row as a Global Top Employer. This year’s certification from the Top Employer Institute is awarded to PMI teams in 44 countries, a testament to the company’s consistency and excellence in offering an enriching and dynamic work environment, and exceptional development opportunities for employees across the globe. PMI has been recognized by the Top Employer Institute for six consecutive years. This year, PMI was awarded with five regional certifications in Europe, the Middle East, Africa and, for the first time, in North America and Latin America. Additionally, Indonesia was the first PMI affiliate to be certified in Asia. “It is a proud moment for all of us at PMI,” said Charles Bendotti, PMI Senior Vice President, People and Culture. “Our success as a company relies on the men and women who come to work every day with a passion to achieve, and a willingness to learn, grow, and