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

Moody’s Completes Acquisition of Omega Performance20.8.2018 21:06Pressemelding

Moody’s Corporation (NYSE:MCO) announced today that it has completed its acquisition of Omega Performance, a leading provider of online credit training. Moody’s announced its intention to acquire Omega Performance, a business unit of TwentyEighty Inc, on July 8, 2018. Omega Performance offers a wide range of online credit training courses to clients worldwide and serves more than 300 customers, ranging from large global banks to local lending institutions. The acquisition will enhance Moody’s Analytics as a worldwide market standard in credit proficiency for financial institutions that offer consumer, small business and corporate lending. The acquisition of Omega Performance is not expected to have a material impact on Moody’s 2018 financial results. For further information about Moody’s Analytics eLearning solutions, visit www.moodysanalytics.com/elearning-courses. ABOUT MOODY'S CORPORATION Moody's is an essential component of the global capital markets, providing credit ratings, rese

Pacific Drilling Announces Settlement in Mediation Between Quantum Pacific and Ad Hoc Group of Creditors20.8.2018 14:02Pressemelding

Pacific Drilling S.A. (OTC:PACDQ) (“Pacific Drilling” or the “Company”) today announced that its plan of reorganization filed on July 31, 2018 (the “Plan”), based on a proposal presented to the Company’s Board of Directors by an ad hoc group of its secured creditors (collectively, the “Ad Hoc Group”), now has the full support of the Company’s majority shareholder, Quantum Pacific (Gibraltar) Limited (“QP”). The Plan was already supported by all of the Company’s major creditor interests. With QP’s participation, the Company expects a smooth plan confirmation process and a quick emergence from its Chapter 11 proceedings. Pacific Drilling CEO Paul Reese commented, “The agreement reached by QP and the Ad Hoc Group delivers the final piece needed to make the Company’s Plan a consensual one that has the support of the Company’s major stakeholders. The agreement should allow the Plan to move forward efficiently and expeditiously through the implementation and confirmation process.” Pursuant t

Bella Hadid Headlines True Religion’s Latest Campaign20.8.2018 12:32Pressemelding

True Religion has tapped Bella Hadid to be the face of the brand. The supermodel embodies all things True Religion, past, present and future; iconic, edgy and everlasting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180820005283/en/ Bella Hadid Headlines True Religion’s Latest Campaign (Photo: Business Wire) An inherit fan of the brand, Bella was the natural choice to meld the iconic essence of the brand with the modern view of its future. An all-star team was assembled including photographer Boo George, stylist Mimi Cuttrell, and hair and makeup duo Jen Atkin and Mary Phillips to create imagery and complementary looks that usher True Religion into a new era that honors the heritage of the brand. A quintessential, confident LA girl with roots at home and abroad, Bella’s voice was not only an inspiration, but an integral part in imagining this campaign, envisioning the brand through her eyes for the next generation of True

Veristat Congratulates Alnylam on the FDA Approval of ONPATTRO™ (patisiran)20.8.2018 11:30Pressemelding

Veristat, a full service Clinical Research Organization (CRO), congratulates Alnylam on the recent FDA approval of ONPATTRO™ (patisiran), a lipid complex injection for the treatment of the polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis in adults. “On behalf of the entire Veristat team that has supported Alnylam in the development of this therapy, we are humbled to have contributed towards this first-in-class drug approval for Alnylam, for the patients with hATTR amyloidosis and their families,” said John P. Balser, Ph.D., President and Co-Founder of Veristat. “We are continuing to support Alnylam as they look to expand regulatory approval of this treatment to other regions of the world.” Veristat began working with Alnylam over 11 years ago and helped design the studies and prepare the Investigational New Drug (IND) submission for patisiran. Our collaboration continued throughout the entire patisiran program inclusive of a phase 2 study, a phase 3 pivotal study

FRISS Brings Claim Fraud Analysis to a Next Level With Web-IQ´s Innovative Online Network Solution20.8.2018 11:30Pressemelding

Asking your neighbor or friend to sign as a witness to a claim for car damages at your insurance company will work no more, with the new Claim Fraud Analysis feature of FRISS. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180820005039/en/ Eldert van Wijngaarden (Web-IQ) and Philip van Waning (FRISS) shaking hands. (Photo: Business Wire) FRISS, the worldwide provider of AI powered fraud and risk solutions for the P&C insurance industry, recently added a new and innovative feature in their fraud analytics solution: Online Network Analysis from Web-IQ. This feature automatically identifies if the claimants and the insured or other involved persons are related to each other in an on-line environment. This is a proven and strong indicator for fraudulent claims. Especially with car accidents and other types of claims where multiple persons are involved, it adds a whole new approach to the traditional claim analyses. “Research sho

Global IBC Future Zone and IABM Future Trends Theatre to Explore the Latest Tech Shaping the Industry20.8.2018 11:18Pressemelding

IBC2018, the world’s most influential media, entertainment and technology show, today announces the line-up for the IBC Future Zone and IABM Future Trends Theatre. Well established as part of the IBC Exhibition, from 14-18 September, the Future Zone brings together the very latest ideas, innovations and concept technologies from international industry and academia and showcases them in a single specially-curated area sitting alongside exhibition Hall 8. This year, the focus is on showing how new technologies grow from their first inception and progress through to research, development, and validation projects; right through to maturing into the ground-breaking applications and future product standards. Major industry trail-blazers presenting their visions of the future, include Japan’s NHK and BBC R&D from the UK. Both companies will demonstrate a number of technology advances, including: Web-VR applications; object-based media scenarios; pathways to 8K resolution for UHD; and Artifici