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

SIA Acquires Card Processing Businesses in Central and Southeastern Europe from First Data25.5.2018 08:30Pressemelding

SIA, a European high-tech leader in payment infrastructure and services, and First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology, have signed an agreement for SIA to acquire First Data’s card processing businesses in parts of Central and Southeastern Europe for €375 million. In 2017, these businesses generated a combined revenue of approximately €100 million for First Data. This acquisition by SIA provides card processing, card production, call center and back-office services, including 13.3 million payment cards, 1.4 billion transactions, in addition to the management of POS terminals and ATMs. These businesses are primarily located in 7 countries: Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia. As a result of the transaction, SIA will become a leading player in processing and services in the region. The agreement includes the transfer of about 1,400 First Data employees into SIA. “This acquisition is in line with our strategy to

Westinghouse Accident Tolerant Fuel Development Moves Forward with Cooperation Agreement with ENUSA25.5.2018 06:00Pressemelding

Westinghouse Electric Company today announced that it will collaborate in the development of its EnCore® Fuel, the revolutionary accident-tolerant fuel (ATF) design, with ENUSA Industrias Avanzadas (ENUSA) through a Frame Cooperation Agreement (FCA). “This agreement serves to strengthen the technical and commercial relations between ENUSA and Westinghouse as we work to develop leading nuclear fuel technology,” said Torbjörn Norén, European Fuel Group and EMEA Fuel Delivery Director at Westinghouse. “Westinghouse’s work with ENUSA in the Spanish and European Fuel Group markets will help to facilitate agreements with customers to launch EnCore Fuel demonstration programs in their plants.” Under the terms of the agreement, the newly signed FCA establishes the framework that will regulate the different Joint Development Programs (JDPs) to be launched between both companies. The first JDP will evaluate the application of the segmented rod concept and develop models of ATF / EnCore fuel beha

BRIC HOLDING Offers Aimedis – ICO: Germany’s Leading eHealth Platform Goes Public25.5.2018 06:00Pressemelding

Since Wednesday, May 16, investors finally have a chance to claim their share of a unique success story, the international market roll-out of Aimedis, by purchasing AIM tokens: AIM tokens are now available with a 20% presale bonus PLUS a 5% early bird-premium only at the Czech investment house BRIC INVEST https://www.bric-holding.com/home_en.html! Aimedis aims to shape the future of healthcare by providing an advanced and fully operational platform, secured by blockchain and supported by AI, that enables patients to take control, secure the exchange of their medical data, access the best healthcare providers, get advice, prescriptions, personal health upgrades and to become part of the health revolution. And we are not talking about the future: The revolutionary Aimedis platform is already deployed as a live working system and is already in use in major hospital groups in Germany! By issuing 300 million AIM tokens at a nominal value of 0,12 USD each, the Aimedis consortium will raise c

Alps Electric to Acquire Greina Technologies, Inc. as Part of Sensor Business Strengthening25.5.2018 02:33Pressemelding

Alps Electric Co., Ltd. (TOKYO: 6770; President: Toshihiro Kuriyama; Head Office: Tokyo) today announces that on May 14, 2018 the company signed a share purchase agreement with Greina Technologies, Inc. (Salt Lake City, Utah, U.S.A.; President/CTO: Daniel J. Lee) whereby Alps Electric will acquire Greina Technologies, making it a wholly owned subsidiary. Alps Electric signed a share purchase agreement with Greina Technologies on May 14, 2018. Through the agreement, Alps Electric aims to add even greater value to its sensing solutions for the automotive market, as well as the consumer electronics and mobile market, by combining high-accuracy positioning technology based on original algorithms developed by Greina Technologies with Alps Electric’s compact, high-performance wireless communication module technology. An engineering firm specializing in positioning systems, Greina Technologies was established in Salt Lake City, Utah, in September 2012. Engaging in such activities as design an

IFF Strengthens Innovation Platform as Partner in Amkiri’s Visual Fragrance™ Technology24.5.2018 20:15Pressemelding

Regulatory News: International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, announced its partnership in Amkiri’s Visual Fragrance Technology -- a new ‘ink’ that can be drawn on the skin that also delivers a long-lasting fragrance, thus connecting the senses of sight and smell. The innovative product’s launch was announced on March 22, 2018 by Amkiri, an Israeli-based start-up that was founded in 2014. “This is a significant innovation in the fragrance category, merging strong and deeply personal visuals with the resonance and emotion of fragrance,” said IFF Chairman and CEO Andreas Fibig. “The Visual Fragrance technology creates a new platform from which IFF can showcase our capabilities, including naturals, molecules, and cosmetic actives. The potential for innovative applications are nearly endless and our teams are truly inspired by the possibilities.” Amkiri’s patented Visual Fragrance is applied to th

Hisense's Zhou Houjian and Huawei's Kevin Ho to Keynote CES Asia; Focus on Mobility, 5G and Connectivity24.5.2018 15:00Pressemelding

The Consumer Technology AssociationTM (CTA) today announced that Hisense Chairman Zhou Houjian and Huawei’s president of Handset Product Line Kevin Ho will deliver separate keynote addresses at the upcoming CES AsiaTM 2018. As CES Asia drives the expansion of technology into new areas like artificial intelligence, vehicle technology, AR, VR and more, Chairman Zhou and Mr. Ho will discuss the future of innovation at their respective companies through connectivity and mobility during Asia’s premier tech event. “Hisense and Huawei have become major global brands by challenging the status quo and creating innovative product solutions that engage, entertain and connect consumers around the world,” said Gary Shapiro, president and CEO, CTA. “We are thrilled to welcome Chairman Zhou and Mr. Ho to the CES Asia keynote stage and are eager to learn from these experts who are leading the charge to harness the potential of 5G through various implementation strategies and connection opportunities.”