Business Wire

LTI USD Revenue Growth up 4.4% QoQ and 12.9% YoY; Net Profit Jumps 17.4% YoY; Declares Interim Dividend of Rs 8 Per Share

Del

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company, announced its Q2 FY18 results today.

In US Dollars:

  • Revenue at USD 270.6 million; growth of 4.4% QoQ and 12.9% YoY
  • Constant Currency Revenue growth of 3.5% QoQ and 11.7% YoY

In Indian Rupees:

  • Revenue at Rs 17,508 million; growth of 4.8% QoQ and 9.3% YoY
  • Net Income at Rs 2,730 million; Net Income growth of 2.2% QoQ and 17.4% YoY

“We are extremely pleased with our performance in Q2 with an industry leading 4.4% sequential growth in USD revenues. Intense client focus and disciplined execution of our strategy has helped us deliver broad based revenue growth led by Digital, which now represents 32% of our revenues.

We are also delighted to announce two large deals this quarter. These wins, combined with on-track execution of large deals won earlier make us optimistic about the future.”

- Sanjay Jalona, Chief Executive Officer & Managing Director

Recent Deal Wins

  • Leading African Bank selected LTI as a strategic partner for a multi-year deal to provide applications development and support services
  • Won a new client logo in Europe, a world leader in Fashion & Cosmetics, with a multi-year engagement for automation-led SAP Application Management Services
  • Implementing a SaaS based Business Process management and Enterprise content management solutions for Canada’s leading Asset Servicing company
  • Multi-year engagement to develop an Enterprise Data Grid for a US based Global Pharmaceutical & Life Sciences company
  • Multiple projects underway for customers in BFS, CPG and High-Tech solving for global supply chain traceability, supply chain finance, trade finance and micropayments leveraging Blockchain
  • Multi-year Managed SAP Services engagement with one of the largest US based Oil Refineries
  • Managed service contract for Infrastructure transformation and support for a US based Global media conglomerate
  • One of the largest commercial mortgage lenders in Canada on-boarded onto ‘Unitrax’, LTI’s SaaS-based, proprietary transfer agency record keeping platform
  • Application and Infrastructure engagement with a US based Global Healthcare Research service corporation
  • Managed Services engagement with a US based Global Pharmaceutical & Life Sciences corporation for managing and transforming their JD Edwards platform
  • Multi-year engagement with niche Digital firm in Australia to provide Customer Experience solutions
  • US based Global Insurer selected ‘Mosaic Decisions’, LTI’s Analytics platform, to improve customer experience

Client Testimonial

"Our partnership with LTI has matured and grown significantly over last seven years. LTI has a great understanding of our business and has transformed several business-critical applications by leveraging cost-effective testing models. Their extraordinary domain expertise and use of IP’s like DiCE, Ladybug and DTF have accelerated & improved overall quality assurance outcomes. Our synergistic efforts such as joint exercises, workshops, and constant sharing of best practices helps us stay relevant and current in terms of the technologies we use. We see significant merit in this relationship and have also chosen LTI as the strategic testing partner for our general insurance arm that will be launched shortly.”

- Gerhard Mulder, HOD, Group Shared Resource Management, Liberty Group, South Africa

Awards and Recognitions

  • LTI recognized by Microsoft as “Azure Emerging Partner of the Year”
  • Named by ISG as an Americas Sourcing Standout and one of the Top Service Providers in the Breakthrough 15 list of the Q3 FY17 Global ISG Index™
  • Positioned as a ‘Major Contender’ in Everest Group’s 2017 Automation in Application Services PEAK MAtrix™, 2017
  • Positioned as a Leader in Zinnov Zones 2017 for Digital Services
  • One of the leading players in Zinnov Zones 2017 IoT Technology Services For System Integration, Managed Services, Big Data Management, and Analytics
  • Positioned as a Major Player in the IDC MarketScape for Worldwide Mobile Application Development and Testing Services 2017 Vendor Assessment (Doc #US42775917, June 2017)

Other Business Highlights

  • LTI introduced - LTI REDaxis - an Accounts Receivable Analytics suite for CPG and Retail enterprises, deployable both on-premise as well as on Cloud.
  • LTI announced a partnership with Flexagon. As part of this partnership, LTI’s clients using Oracle Suite of products will have access to Flexagon’s market leading platform FlexDeploy to deliver DevOps solutions that support strategic digital transformation.
  • Signed strategic implementation partnership with US based Quote-to-Cash software company Apptus. The partnership will focus on enabling digital transformation initiatives of global customers through jointly developed industry focused offerings.
  • Collaboration with Enov8, a leading IT and Test Environment management company, to drive breakthrough innovation in Automation of various stages of IT Projects.
  • eVidyaloka (a not-for-profit organization based in Bengaluru), with LTI’s support and close involvement, inaugurated its 100th education center in Karnataka. This is a technology enabled remote education program for children in rural Karnataka.
  • LTI received a humanitarian award from Honorable Vice President of India, Sri Venkaiah Naidu for reconstruction of historical Gandhian institution that was demolished during the floods at Chennai in December 2015.

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 unrivaled 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 https://www.lntinfotech.com or follow us at @LTI_Global

Connect with LTI :

Contact information

LTI
Neelian Homem
PR & Media Relations - India
+91-900-434-5540
neelian.homem@lntinfotech.com
or
Karin Bakis
PR & Media Relations - USA
+1-978-998-1578
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

Andersen Global Initiates Expansion in Mozambique14.8.2018 13:30Pressemelding

Andersen Global continues expansion in Africa with Isalcio Mahanjane e Associados, a law firm headquartered in Maputo, Mozambique. The collaboration with Isalcio Mahanjane e Associados signifies Andersen’s growth in the African region, as Mozambique provides strategic coverage in Southeast Africa and is the sixth country to collaborate or join in Africa in the past 14 months. Led by Managing Partner Isalcio Mahanjane, the firm includes 10 professionals and specializes in providing quality services in all branches of law for corporations and individuals. These services include commercial and corporate law, banking and financial law, labor law, real estate management, oil and gas, mines, and law and administrative litigation. “Mozambique will be a key point of connectivity with our practice in Portugal as we continue to focus on best-in-class solutions in Africa,” commented Global Chairman and Andersen Tax LLC CEO, Mark Vorsatz. “Isalcio and his team are passionate about their practice a

Gyeonggi Province of Korea Launches Beyond the Dream Global VLOG Contest14.8.2018 12:00Pressemelding

Gyeonggi Provincial Government and Gyeonggi Tourism Organization (GTO) are hosting an international video contest called “Beyond the Dream VLOG Contest 2018.” Video submissions will be accepted until August 26, 2018 (Korean Standard Time). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180814005240/en/ Gyeonggi Provincial Government and Gyeonggi Tourism Organization (GTO) are hosting an international video contest called "Beyond the Dream VLOG Contest 2018." Video submissions will be accepted until August 26, 2018 (Korean Standard Time). The goal of the "Beyond the Dream VLOG Contest 2018" is to raise global awareness of Gyeonggi Province as an attractive travel destination and to select a Gyeonggi-do tourism ambassador who will show the world the charms of the province. Four final-winning teams will win a 10 day trip to Gyeonggi Province. USD 10,000 travel expenses for airline tickets and other travel expenses will be provi

CTS Engines Inducts First PW2000 Engine14.8.2018 12:00Pressemelding

CTS Engines, the global leader for mature engine maintenance within the Aerospace & Defense industry, announced today that it had inducted the first PW2000 engine into its engine overhaul facility in Ft. Lauderdale, FL. Along with the CF6-80C2, CF6-80A, and CF6-50C2, the PW2000 represents the fourth engine model type serviced by CTS. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180814005021/en/ PW2000 Engine. (Photo: Business Wire) “The profile of the PW2000 engine—which will continue to operate on B757s in cargo configuration and on C-17 Globemaster military transport aircraft for years to come—is an ideal fit for the CTS product line,” said Vesa Paukkeri, CTS’s President and Chief Operating Officer. “CTS is the go-to independent jet engine MRO for sunset engines operating in cargo and military transport configurations. We look forward to servicing this engine through the remainder of its time on wing over the next 30+ ye

BOC Group has just released ADONIS:CE – A Milestone in Free Cloud BPM Tools!14.8.2018 11:00Pressemelding

BOC Group announces the release of brand new ADONIS:Community Edition, now available in the cloud for free. Today, BOC Group launched the next in line descendent of its worldwide-known free Business Process Management tool, ADONIS:CE. This launch is more than just a product update: it marks the ADONIS:Community Edition's shift to the battle-tested web-platform and its transition to the cloud as SaaS. Based on the latest version of BPM suite's commercial edition ADONIS NP 5.5, ADONIS:CE makes a grand entrance with its fresh design, state-of-the-art functionality and exceptional user experience. Tobias Rausch, ADONIS product manager elaborates: “We believe in spreading BPM to all regions, as well as teams and companies of all sizes, by providing a free-of-charge tool that helps businesses improve their process game. That is why we have designed a freely available BPM tool with such an outstanding and rich feature-set.” In addition to the capabilities mentioned above, ADONIS:CE comes with

Interxion Announces Direct Connectivity to Google Cloud Platform across Its European Footprint14.8.2018 08:00Pressemelding

INTERXION HOLDING NV (NYSE: INXN), a leading provider of carrier and cloud-neutral colocation data centre services in Europe, today announced that dedicated access to Google Cloud Platform (GCP) is now available across its European footprint through Cloud Connect, Interxion’s multi-cloud interconnection platform. With Google Cloud deploying its Cloud Interconnect points of presence (PoPs) in Interxion’s Paris, Marseille, Frankfurt and Stockholm data centres, customers can now directly connect to Google Cloud Platform from these locations. Moreover, because Interxion is a partner of Google Cloud’s newly launched Partner Interconnect service, customers can also connect from any of Interxion’s data centres across Europe via Cloud Connect. Customers using this service benefit from fully redundant, instant access to GCP from multiple metropolitan areas, ensuring a 99.99% availability SLA without the complexity and costs of having to build a networking solution themselves. “We are seeing str

Lumileds Wins Jury Verdict of Liability for Intellectual Property Theft Against Elec-Tech International Co., Ltd., Donglei Wang, and Gangyi Chen13.8.2018 22:45Pressemelding

On August 10, 2018, a jury of six men and six women rendered a verdict in favor of one the world’s leading LED companies, Lumileds LLC, based in San Jose, finding that a Chinese competitor stole trade secrets related to Lumileds core technology for making high power LEDs used in flash phones, automotive headlights, and general illumination. The case, Lumileds LLC v. Elec-Tech International Co., Ltd., Donglei “Tony” Wang, and Gangyi Chen, Superior Court of the State of California, County of Santa Clara, found the defendants liable for damages in intellectual property theft. The jury awarded Lumileds $66 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180813005694/en/ Mark Adams, Chief Executive Officer at Lumileds Inc. (Photo: Business Wire) The jury concluded that ETI, Wang and Chen misappropriated Lumileds trade secrets, took them to China, and used them to develop ETI’s LED technology. The award of $66 million is t